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April 19, 2006

Beacon board meeting draws state senator's protest

WARWICK -- The public was not invited to attend a board of directors' meeting at the headquarters of Beacon Mutual Insurance Co. tonight, where the group has been meeting since 4 p.m. to continue its discussion of report released last week highly critical of the workmen's compensation insurer.

But that didn't stop state Sen. James Sheehan, of Narragansett and North Kingstown, from showing up.

Sheehan was there to greet the seven board members as they arrived this afternoon. He was holding a homemade sign bearing images of two boats. He called them the S.S. Public Trust and the S.S. Workmen's Compensation.

One had crashed on the rocks and the other was sinking, Sheehan said. "You have to come forward, come clean and make the neccesary changes to begin to restore public faith in this organization," he said.

-- With reports from Journal staff writer Lynn Arditi

Last week the board decided to suspend Beacon's CEO, Joseph A. Solomon, with pay, in the wake of demands by Governor Carcieri to overhaul its leadership. The board also suspended, with pay, its vice president of underwriting, David Clark, and board member Edward J. Braks resigned.

Carcieri has called on the board to make more changes. It is unclear if the board may make further changes at tonight's meeting.

-- With reports from Journal staff writer Lynn Arditi

Posted by Steve Peoples  at 6:52 PM | Permalink

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