Judge Certifies Class in Beacon Mutual Suit

Rhode Island Superior Court Judge Michael Silverstein granted class-action status to a lawsuit in which plaintiffs allege that Beacon Mutual Insurance Co. inequitably distributed $101 million in dividends among policyholders, according to a report in the Providence Journal.The lawsuit charges that Beacon Mutual, the largest workers' compensation insurer in Rhode Island with about 11,000 policyholders, was supposed to distribute surpluses evenly but instead diverted more than $101 million to a small percent of policyholders, the newspaper reported.There are six named plaintiffs in the lawsu...