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 as of 12/31/2014:  $2.0 Million 
  • Dividends returned to policyholders since inception: $62.5 Million
  • Indemnity payments to claimants since inception: $846.8 Million
  • Medical and related expense payments since inception:  $543.8 Million
  • Annual number of claims filed: Over 8,000
  • Loss reserves: $142 Million
  • Number of policyholders:  Over 12,000
  • Annual policy gross written premium:  $131 Million
  • Number of employees: 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.