PLM is active in numerous trade associations and buying groups throughout the country. The relationships we have built through these different wood-related associations allow us to provide special programs for their membership in the form of Safety Group Dividend Plans.
PLM currently has six dividend programs with the following groups:
- Allied Building Stores, Inc. (ABS)
- Eastern Building Material Dealers Association (EBMDA)
- LBM Advantage
- Lumbermens Merchandising Corporation (LMC)
- North American Wholesale Lumber Association (NAWLA)
So, how does a Safety Group Dividend Plan work? In order to be eligible to join a dividend plan, you must be a primary member of one of the associations or buying groups listed above and a PLM customer. By signing a dividend election form and returning it to PLM’s Marketing Department, you will be enrolled into the dividend plan.
All of our plans provide the same benefits. Premium and losses for each participant in the group will be combined to calculate a final loss ratio at the end of the plan year. If the group has a collective loss ratio under 50%, a dividend may be paid up to 10% of eligible policy premiums earned for each individual member. Enrolling in a dividend plan does not affect or change your PLM policy.
Two of our groups recently earned dividends for their 2019 plan year: LBM Advantage and LMC!
PLM paid out a 2% dividend to the participating members of the LBM Advantage Safety Group Dividend Plan. This is thanks to their group loss ratio of 47.8% when we made final calculations for the 2019 plan year.
The LMC Safety Group Dividend Plan received a 3.5% dividend for their 2019 plan year. Their final calculation resulted with a group loss ratio of 38.12%.
Checks were mailed directly to all the participants for both groups at the end of April.
For more information on existing programs, visit www.plmins.com/products-services/dividends/. If you have any questions about PLM dividend plans, please contact Susan Cho at email@example.com or at 267-825-9350.