By Genevieve Ventiere, Brokerage Marketing Manager
PLM has been a part of the wood niche for 125 years and has spent those years getting to know the wood industry – joining its trade groups, following industry market conditions, and assisting in our customers’ risk management with the help of PLM’s robust Loss Control team. In doing this, we have learned to constantly hone our coverage offerings to best respond to your wood industry clients’ needs. With the addition of ABM (Allied Building Materials Agency, Inc)., we’re also able to respond to the changing needs and challenges faced by our independent broker partners.
By now, we hope you’ve heard of ABM, PLM’s in-house brokerage. You may have seen emails or flyers or spoken to your PLM BDR or Underwriter about us. Though long dormant, ABM was refreshed by PLM and opened for business in September of 2019. To date, we have helped PLM’s independent broker partners place nearly $3.5M in workers’ comp coverage with our carefully chosen carriers.
Workers’ compensation coverage was a natural starting point at which to begin growing ABM. PLM has not written workers’ comp directly for many years, and has no plans to do so moving forward, yet the needs of the lumber industry naturally include workers’ comp. It’s also a coverage brokers have consistently requested PLM provide their wood-industry clients.
Using PLM’s century of knowledge of the wood industry and its insurance needs, ABM was able to identify and partner with carriers we trust to provide PLM customers with the best coverage and service the comp market has to offer. We have since cultivated relationships with these carriers which allow us to provide:
- Specialized programs
- Proprietary access to specific class codes (including heavy manufacturing classes)
- Favorable rates and commissions
- Dividend programs
- Excellent Loss Control and Claims services
Due to our success in placing comp and building our relationships with our carriers, we’re feeling ready to begin expanding into other lines of business. We’ve all noticed some drastic changes in the insurance landscape; large increases, other carriers backing away from certain industries or classes of business, new coverage limitations. The existence of ABM and its growing connections will allow us to fill in the gaps in any wood business’s insurance program. While we are just beginning this next step, we anticipate being able to provide coverage solutions for difficult-to-place accounts or classes, higher Umbrella limits, coverage for large auto fleets or coastal properties, and options for any number of specific challenges a wood business account can present us. The sky’s the limit, and we look forward to hearing from you on how we can help you and PLM better service our mutual customers.
