Beacon Mutual Mess Redux
The State DBR (Department of Business Regulation) has released it’s own report (300+ pages) concerning the Beacon Mutual scandal (before the Governor shook it all up). As the ProJo 7to7 blog summarizes:
Here are some of the report’s specific findings, according to the DBR:
— Certain employers related to board members and other favored employers were given unsupported discounts.
— Charitable contributions were made to institutions related to board members and senior management with little or no evidence to support the efficiency of the contributions.
— Commissions were paid to select agents, although minimum performance thresholds in their contracts were not met.
— Management, favored agents and some clients enjoyed golf trips and other perks constituting unsuitable expenditures.
Probably nothing new, but it’s always good to be reminded of the corruption, huh?
MORE: ProJo has more details here (“golf trips and pricing favors were the norm”) and Mike Stanton explains some of the political connections that have been exposed.
Executives at the old Beacon Mutual Insurance Co. played politics in a number of ways, a state report alleged yesterday — attempting to “buy votes” at the State House, offering preferential treatment to companies connected to one lawmaker, hiring a state representative to do collection work, making questionable payments to a prominent political operative and orchestrating possibly illegal contributions to the U.S. Senate campaign of Sheldon Whitehouse.
More to come…