Committee proposes changes to insurer ethics
DENVER — A special committee of the board of insurance company Pinnacol Assurance is recommending changes to the insurer’s ethics and conflicts of interest policies.
A report issued by the committee Wednesday came after a review prompted in part by a lavish golf junket to Pebble Beach last year that was sponsored by Pinnacol’s executives and board members. KMGH-TV reported on the $318,000 “incentive” trip that included more than $20,000 in liquor and one meal that costs more than $19,000.
Committee members found no improprieties in business practices or executive compensation but noted that 85 employee expenses were potentially excessive. Recommendations include limits on incentive trips and ensuring that Pinnacol-hired lobbyists adhere to state laws.
The examination was done at the request of Gov. John Hickenlooper.