Class Cert. Granted In Beacon Mutual Dividend Suit

Law360, New York (January 21, 2011, 1:46 PM EST) -- A Rhode Island judge has certified a class of policyholders who allege that Beacon Mutual Insurance Co. inequitably distributed more than $101 million worth of dividends on its workers compensation and employers liability policies.

Rhode Island Superior Court Judge Michael Silverstein granted the plaintiffs' motion for class certification Wednesday, allowing all but one of the six proposed named plaintiffs to serve as class representatives.

The lawsuit, filed in 2002, accuses Beacon Mutual of engaging in a systematic scheme to divert more than $101 million in dividends...
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