Beacon Mutual Announces Policyholder Dividend

WARWICK, RI – The Beacon Mutual Insurance Company today announced it will distribute a $2 million dividend payment among its 12,100 policyholders. Beacon Mutual, Rhode Island’s largest provider of workers’ compensation insurance, will begin issuing the dividend during the second quarter of 2015.

“As a mutual insurance company we operate for the benefit of our policyholders. During this difficult economic climate, we are pleased to be able to assist Rhode Island businesses – our policyholders – with this dividend offering,” said Beacon Mutual President & CEO James V. Rosati. “This dividend collectively will result in two million dollars being returned to the state’s economy.”

“In order to create opportunity for Rhode Island families, we need to build skills, attract investments and entrepreneurs, and foster innovation,” said Rhode Island Governor Gina M. Raimondo. “Beacon’s commitment to creating safer workplaces benefits all Rhode Islanders and helps to make our economy stronger for everyone.”

With five consecutive years of dividend returns, Beacon Mutual is fulfilling its mission of being a stabilizing presence in the Rhode Island workers’ compensation system.

The dividend will be distributed to all policyholders insured by the company as of December 30, 2014, who have been insured for one year and whose premiums are paid in full.

“This dividend offering is possible as a result of capital gains on our investments,” added Rosati. “As always, our focus remains: to reduce workplace injuries through safety training and education; to provide the highest quality resources and programs, like our Stay-at-Work/Return-to-Work program; and to treat injured workers with respect and dignity, while getting them back to work as safely and as soon as possible. It is the continued hard work and dedication of Beacon employees that enables us to deliver these high-quality customer and claim services.”

Beacon continues its commitment to increasing efficiencies and reducing operating costs through automation and innovation, and creating value for policyholders every day.

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