I frequently field inquiries from clients regarding “how we price” their business. I’d like to offer a few insights as to how we approach this topic. Insurance is often described as a promise to perform. At its core, insurance is a contract between an individual or entity (the policyholder) and an insurance company (PLM). This... [Read More]

I would like to begin this commentary by providing an update on our financial performance and where we find ourselves through the end of May 2025. I’m writing this just after the end of June, and while full results are not yet final, I’ll share several initial thoughts as I cover each area. Our Current... [Read More]

Before delving into an overview of our operating results, I thought I would start off with a topic that is currently front and center, tariffs. I am not going to debate whether tariffs are good or bad, but to provide my viewpoint on how they may impact all of our businesses. The issue that we... [Read More]

I am sure by now you’ve become aware of the reorganization of our leadership team here at PLM, but if not, a copy of the press release is included in this issue for your review. We are pleased with the feedback that we've received from insureds, brokers, trade association executives, and other stakeholders. It's rare... [Read More]

Guest Spotlight by Steve Firko, SVP of Business Development, Loss Control, & Customer Service  As we close out the year, and as I write this on the eve of the presidential election, I am increasingly optimistic about our future at PLM and that of the wood and building material related industries that we serve.  The... [Read More]

I would like to begin this commentary by sharing that for the first time in our nearly 130-year history, our policyholder surplus has surpassed the $200 million mark! So, you are wondering, why is this a big deal? These are funds that we hold “in reserve” for the benefit of our policyholders. These funds are... [Read More]

Have you ever wondered what your client is really buying when they purchase insurance with a new insurance company or renew their policy with their current one? Surely, it’s not the stack of paper that makes up the legal contract between the insurance company and your client! Purchasing insurance is not like buying a stick... [Read More]

I hope this finds you off and running and doing well in 2024! Unfortunately, for PLM, we have faced a few challenges so far this year. We concluded the first quarter behind plan from both a profitability and production viewpoint. A Look at Losses After a number of years where our fire losses were trending... [Read More]

As I am writing this commentary, we have not yet reported our year-end financial results as a company to our Board of Directors, so I will refrain from going into specific details about our results. Suffice to say, we expect to see strong investment income which will overcome an underwriting loss and produce operating income... [Read More]

There are many topics I want to touch on in this commentary. Beginning with a quick look at our current results, the continued weather-related claims, as well as poor results in the general liability and commercial auto areas contributed to our unprofitability from an underwriting perspective through the end of September. This has only been... [Read More]