The board of The Beacon Mutual Insurance Co. on Thursday fired president and CEO Joseph A. Solomon as well as David Clark, vice president of underwriting, after a 10-hour meeting with auditors who had found several irregularities, including the preferential treatment of some companies and unusually large commissions and perks for certain agents and brokers.
One board member, Edward Braks, chief financial officer of Paul Arpin Van Lines and former chair of the board’s audit committee, has also resigned. But as of Thursday, the board as a whole still refused to heed Gov. Donald L. Carcieri’s call for all members except his appointees to resign. Carcieri had also called for Solomon and Clark’s ouster.
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The board has met twice to discuss the probe, and plans further sessions. The audit was conducted by Giuliani Security and Safety, a division of former New York Mayor Rudolph Giuliani’s consulting firm, at the request of a special panel set up by Beacon to look into allegations of improprieties.
