Pinnacol Assurance of Misleading Audit Practices
One of the primary concerns involves the Classification of Operations. According , Pinnacol’s audit lists three distinct classes of employees for the business, despite the fact that the company operates under only one classification code: 8868 Adult Day Center. This code is specifically designated for professional employees and staff working in an adult day care setting.
further alleges that Pinnacol unilaterally changed their classification to a higher-rated code, one typically used for colleges, and doubled the number of codes without consulting or notifying the company’s owner. This reclassification significantly increased the premium costs. Despite repeated attempts by management to arrange a meeting to discuss these changes, Pinnacol reportedly refused to engage in a discussion about the audit or address the concerns raised.
In addition to the classification dispute, also challenges the employee count cited in the audit. Pinnacol’s audit claims that the company had 20 staff members during the audited period. however, disputes this figure, stating that payroll records show only 7 employees at that time. This discrepancy further contributes to what MANY views as a pattern of inaccuracies that unjustly inflates their insurance costs.
we contends that Pinnacol has failed to provide appropriate documentation or justification for the classification changes, which casts serious doubt on the audit’s validity. The company’s owner expressed frustration that despite their efforts to address these concerns, Pinnacol remains uncooperative, leaving Companies to choice but to seek regulatory intervention.
3 months ago
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