Policyholder Questions

Policyholders can contact your independent insurance agent for questions about dividends and eligibility. To find your agent’s contact information, log in to BEACONNECT and view your invoice.

In order to be eligible for a dividend:

  • You must have been a policyholder as of December 31, 2019.
  • You must also be a policyholder as of March 1, 2020.
  • Your policy’s developed loss ratio must not exceed 45 percent valued as of March 31, 2020.

A loss ratio is a policyholder’s total losses and claims expenses divided by the written premium. The lower your loss ratio, the better your claims experience or safer your workplace. A safety dividend is a way to share Beacon Mutual’s favorable results with policyholders that have good loss experience.

Dividend amounts vary based on each policyholder’s premium amount and loss ratio. This dividend is projected to return an average of 7 percent of premium to 96 percent of Beacon Mutual’s eligible policyholders.

Dividend check distribution has been accelerated in an effort to support policyholders facing difficult financial circumstances. The distribution will begin in June 2020 and it is expected that all eligible policyholders will receive dividend checks in the mail by mid-June 2020.

No. Dividends will only be issued for policies that are in force for an annual term.

Dividends will be based on the written premium of each policy as of March 31, 2020.

No. Dividends will only be paid to accounts in good standing.

Yes. A dividend will be issued for qualifying out-of-state policies issued by Argonaut. This dividend will be paid in one check that includes both the Beacon and Argonaut earned dividend.

Dividends are not part of premium; therefore, any applicable shared earnings will not be impacted. Please contact your agents with questions.

Dividends are not part of premium; therefore, loss ratio will not be impacted. Please contact your agents with questions.

 

The dividend will be paid in a stand-alone check. It cannot be applied to any past or future premiums due.

Agent Questions

In order to be eligible for a dividend:

  • The policyholder must have been a policyholder as of December 31, 2019.
  • The policyholder must also be a policyholder as of March 1, 2020.
  • The policyholder’s developed loss ratio must not exceed 45 percent valued as of March 31, 2020.

The dividend percentage is calculated based on a Board approved factor of .77 applied to the sliding scale of Beacon Mutual’s Shared Earnings SE9602 Plan.

Prior to the start of dividend distribution, agency principals will receive a letter with an enclosed Dividend Statement, which lists their eligible clients who will be receiving a dividend including each policyholder’s name, policy number, policy effective date, written premium , and dividend payment amount.

Dividend check distribution has been accelerated in an effort to support policyholders facing difficult financial circumstances.  The dividend checks will be mailed directly to policyholders. The distribution will begin in June 2020 and it is expected that all eligible policyholders will receive dividend checks in the mail by mid-June 2020.

No. Dividends will only be issued for policies that are in force for an annual term.

Dividends will be based on the written premium of each policy as of March 31, 2020.

No. Dividends will only be paid to accounts in good standing.

Yes. A dividend will be issued for qualifying out-of-state policies issued by Argonaut. This dividend will be paid in one check that includes both the Beacon and Argonaut earned dividend.

Dividends are not part of premium; therefore, shared earnings will not be impacted.

Dividends are not part of premium; therefore, loss ratio will not be impacted.

The dividend will be paid in a stand-alone check and sent directly to the policyholder. It cannot be applied to any past or future premiums due.

Dividends are not part of premium; therefore, commission will not be impacted.