Beacon Mutual Announces Dividend For 11,400 Policyholders
PRESS RELEASE Contact: David Cordeiro
Wed, Jan 11,
WARWICK, RI – The Beacon Mutual Insurance Company announced today it will issue a 3% dividend payment to its 11,400 policyholders beginning in the second quarter of 2012.
“We understand Rhode Island businesses continue to struggle during these difficult economic times and are pleased to be able to assist our policyholders through this dividend offering,” said James V. Rosati, president and CEO of The Beacon Mutual Insurance Company.
The dividend will be distributed to all policyholders insured by the company as of December 30, 2011, who have been insured for one year and whose premiums are paid in full. Beacon also issued a dividend in 2011.
“In spite of the continuing poor economy and high unemployment levels which have significantly impacted workers’ compensation premiums, Beacon was able to issue this dividend as a result of capital gains on its investments. In addition, Beacon continues its commitment to increasing efficiencies and reducing operating costs through automation and innovation, creating value for our policyholders every day. ” added Rosati.
Beacon’s mission is to provide affordable workers’ compensation insurance for all Rhode Island businesses and to be a substantial instrument in the stabilization, fiscal health, and proper functioning of Rhode Island's workers' compensation system.