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April 20, 2006

Grand jury subpoenas Beacon records

The Beacon Mutual Insurance Co. has received a state grand-jury subpoena for records related to the Giuliani report into alleged wrongdoing.

A company spokesman said today that the Rhode Island State Police delivered the subpoena to Beacon headquarters at 3 p.m. Wednesday.

``This is a new day at Beacon,’’ said the spokesman, Bill Fischer. ``We have nothing to hide. The board, management and employees of Beacon intend on cooperating fully with both the state police and the Department of Attorney General. The doors are wide open.’’

The report has led to the firing early this morning of the insurer's CEO and vice president for underwriting.

-- Journal staff writer Mike Stanton

Posted by Jack Perry  at 2:01 PM | Permalink

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