BRIEF: Beacon Mutual to pay $1 million dividend

Jan. 30--The Beacon Mutual Insurance Company said it will issue a $1-million dividend payment to its more than 12,000 policyholders during the second quarter. The dividend will be distributed to all policyholders insured by the company as of Dec. 30, 2016, who have been insured for at least one year and whose premiums are paid in full.

The dividend is in addition to Beacon's overall 3.6-percent reduction in rates on Oct. 1, 2016, and an anticipated further rate reduction on Oct. 1, 2017.

In a statement, Beacon Mutual President & CEO James V. Rosati said, "This dividend and rate reduction will collectively result in $5.3 million being returned to the state's economy."

Beacon Mutual, based in Warwick, is Rhode Island's largest provider of workers'

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