President’s Letter

John K. Smith, President & CEO I would like to give you a snapshot of where PLM stands financially with the first half of 2019 behind us. From a premium standpoint, we are running slightly behind our production target, but feel comfortable that we will be able to fill the $3.2 million shortfall in the second half of the year. The shortfall...

The Dovetail: Loss Control Lessons from Our Relationship Enhancement Program

As the first half of 2019 comes to close, so does PLM’s Relationship Enhancement Program (REP). This program was rolled out in early January 2019 to address a number of growing loss trends specific to the lumber, woodworking and forest products industry. Our commitment to loss control is part of our history and our future. For 125 years we’ve been dedicated to...

Plumb Safety: New Resource for PLM Customers: Streaming Safety Videos

We have long offered risk management and loss control resources to our insureds to help mitigate preventable losses—that is not going to change. Yet we can reach our customers and partners in more ways than ever. Gone are the days when we were limited to pamphlets and mailers. How we offer safety resources is evolving and growing with technology. Recently, we added...

Plumb Safety: Brace Your Business for the Brunt of Hurricane Season

NOAA predicted a “near-normal” 2019 hurricane season in their May outlook. However comforting that may sound, that still means the eastern seaboard may see between nine and 14 named storms — and as many as four of those could be major hurricanes. A hurricane preparedness plan may prove extremely useful for businesses on the Atlantic and Gulf Coasts as this season begins...

The Financial Corner: ABS Safety Group Secures 2% Dividend Payout

We are pleased to announce that PLM paid out a 2% dividend to the participating members of the Allied Building Stores (ABS) Safety Group Dividend Program. The dividend payment was for the plan period of February 1, 2018 to January 31, 2019. The final calculation resulted with a group loss ratio of 41.92%, earning the plan participants a 2% dividend. ABS members...

Expanding Our Team: PLM Welcomes Angelo Ganguzza

We are proud to welcome Angelo Ganguzza, Vice President, to the PLM team. Angelo brings 34 years of insurance experience across a variety of specialties and companies to PLM. PLM recently entered into a renewal rights agreement with AmTrust for their book of lumber business. Under the terms of the agreement, PLM offered immediate employment to almost the entire AmTrust lumber team,...

President’s Letter

John K. Smith, President & CEO During my career at PLM, I have made it routine to frequently review our accounts to ensure that we are continually providing the best products and services to our insureds. About six months ago, as I was reviewing some new accounts, I began to question whether we were spending enough time with our existing insureds. My...

Relationship Enhancement Program

The Relationship Enhancement Program (REP) was developed at the beginning of 2019 to address several needs following years of tremendous growth at PLM. At the core of our principles remains our desire to develop and maintain direct relationships with our insureds with the purpose of helping them mitigate losses specific to the lumber, woodworking and forest products industries. Along with top-line premium...

Dividends Paid to NAWLA Members

We have talked a lot about developing and maintaining relationships with our customers in this issue. One of the ways we achieve this is through our involvement and dedication to the industry. PLM is an active member in numerous trade associations throughout the country. Our people attend industry events, we support association events through sponsorships and we have several endorsed safety programs...

Why Recommendations?

As part of our Relationship Enhancement Program, our Business Development and Loss Control Representatives have been carefully reviewing our customers’ premises and operations to identify any potential areas of risk, ways to improve safety, and prevent future losses. Due to this closer look, there has been a significant increase in the number of recommendations we have issued to our insureds. Many of...

Our People in the Industry

PLM representatives not only attend trade associations’ events and meetings but are also involved in the association on a board level. We have several people who serve on boards and committees for various wood-related associations throughout the U.S. Our President & CEO, John Smith, currently serves on the board of the Hardwood Federation and the investment committee of the National Lumber and...
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