Finance Department

 
Beacon Mutual strives to fulfill its mission of being an instrument in the stabilization, fiscal health, and proper functioning of Rhode Island's workers' compensation system. Beacon is financially strong, and has maintained a strong surplus to provide for the company’s known and unknown risks, and has provided policyholder dividends for the last three years.
 

Financial Quick Stats 

 
A summary of Beacon’s financial history is provided below.
  • Declared dividend at 12/31/2016:  $1 Million 
  • Dividends declared to policyholders since inception: $67.5 Million
  • Indemnity payments to claimants since inception: $952 Million
  • Medical and related expense payments since inception:  $604 Million
  • Average annual number of claims filed: Over 8,000
  • Loss reserves at 12/31/2016: $152 Million
  • Number of policyholders at 12/31/2016:  Over 12,000
  • Annual Policy Gross Written Premium at 12/31/2016:  $141 Million
  • Number of employees at 12/31/2016: Over 170


Make Premium Payments to Beacon
Beacon Mutual offers policyholders multiple flexible payment options for convenience: standard payments by mail or lockbox, an online premium payment service, and new in 2013, Beacon Pay As You Go. For more information on how to make a payment, visit our secure web portal, Beaconnect. 


Finance Questions 

For policy payment questions, access the Beacon Payments help page or contact Beacon Finance at AccountingWorkflow@Beaconmutual.com or 401-825-2676.