Dividend Announced - Great News for Policyholders
January 26, 2017
The Beacon Mutual Insurance Company today announced that it will issue a One Million Dollar ($1,000,000) dividend payment to its more than 12,000 policyholders. This dividend is in addition to Beacon’s overall reduction in rates of 3.6% on October 1, 2016, and an anticipated further rate reduction on October 1, 2017. This dividend and rate reduction will collectively result in $5.3 million being returned to the state’s economy. Beacon Mutual, Rhode Island’s largest provider of workers’ compensation insurance, will begin issuing the dividend during the second quarter of 2017.
Policyholders who will receive a dividend payment must have been insured by Beacon Mutual for one year as of December 30, 2016, and have all premiums paid in full. This marks the seventh consecutive year Beacon has issued a dividend to policyholders.
A letter from President & CEO James V. Rosati will be sent to notify all policyholders, the details of which can be found in the news release.
Click here to read the news release.
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