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April 20, 2006

Carcieri removes two Beacon board members

PROVIDENCE -- Governor Carcieri fired two long-time members of the Beacon Mutual Insurance Co.'s board of directors today, claiming that moves by the board to remove two top company officials did not go far enough.

Termination letters were hand-delivered today to George Nee and Henry Boeniger, both Beacon board members since the workers' compensation insurer's formation in 1994. Carcieri has authority to remove for cause four of the seven board members who are governor appointees.

In a marathon meeting that ended this morning at 2:15 a.m., the board decided to fire former Beacon CEO Joseph A. Solomon and vice president of underwriting David Clark.

Both had been suspended by the board last Friday in the wake of a scathing audit of the company's practices.

Posted by Steve Peoples  at 5:08 PM | Permalink

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