Beacon Mutual Announces Policyholder Dividend

Warwick, RI – The Beacon Mutual Insurance Company today announced it will issue a two percent (2%) dividend payment to its 12,000 policyholders. Beacon Mutual, Rhode Island’s largest provider of workers’ compensation insurance, will begin issuing the dividend during the second quarter of this year.

“As Rhode Island businesses continue to deal with a difficult economy, we are pleased to be able to assist our policyholders through this dividend offering,” said Beacon Mutual President & CEO James V. Rosati. “This dividend collectively will result in $2,300,000 being returned to the state’s economy.”

“Beacon Mutual has contributed greatly to the stabilization and fiscal health of Rhode Island’s workers’ compensation system,” said Rhode Island Governor Lincoln D. Chafee. “Beacon is a guaranteed source of insurance for our local employers. The organization has worked tirelessly to create safer workplaces for Rhode Island employees and has helped to ease the financial burden on businesses in the Ocean State.”
The dividend will be distributed to all policyholders insured by the company as of December 30, 2013, who have been insured for one year and whose premiums are paid in full. Beacon also issued policyholder dividends in 2011, 2012 and 2013.

“This dividend offering is possible as a result of capital gains on our investments,” added Rosati. “We remain focused on reducing workplace injuries through safety training and treating injured workers with respect, while getting them back to work as safely and as soon as possible. None of this could be accomplished without the hard work and dedication of Beacon employees who continue to provide high-quality customer and claims service.”

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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