PLM Monthly Highlights series for insurance producers and brokers – our newsletter to keep informed on news and updates from Pennsylvania Lumbermens Mutual.
Working with a wood industry-related client? Send your applications to: NewBiz@plmins.com
BROKERAGE UPDATES – Logging Program and More to Come
Finding the right insurance coverage for your logging, chipping, or hauling operation can be difficult and hasn’t always been in-appetite for PLM. To help the insurance producer community better serve their clients, our in-house brokerage and program business specialist, ABM has exciting news that launched initially in a number of states: The Green Tree Logging Program.
The GTLP is an insurance solution designed for experienced forestry and logging professionals to offer the right insurance program with tailored coverages.
Green Tree Logging Program Appetite:
- Logging
- Chipping
- Log/Chip Hauling
Currently Available (Operation Location): Alabama, Arkansas, Georgia, Louisiana, Mississippi, Oklahoma, Tennessee, Texas
Available Lines of Coverage: Commercial Auto, Property, General Liability, Inland Marine, Umbrella
ABM Brokerage remains the best way to help round out PLM accounts for WC placement and as a program business specialist to help you find the right coverage for those operations in and around the wood industry. Be on the lookout for some exciting ABM news launching 6/1!
Property is available through Pennsylvania Lumbermens Mutual Insurance Company, Casualty is available through Timber Creek Insurance Company, Inland Marine is available through various carrier partners via ABM Brokerage.
HARDWAREXPRESS – Fast Quotes for Single-Location Hardware Stores
Just as with ABM and its logging program, Pennsylvania Lumbermens Mutual continues to find new and accurate solutions within its own appetite through HardwareXpress. While we launched this program earlier this year, we want to keep you regularly updated on ways to expand your own book of businesses through other opportunities in your community – with Hardware Stores.
Request Bindable Quote | Submit Online
Eligibility:
- Single Location
- Up to $3M TIV
- Up to $2M Annual Sales
- 4 Autos or Less
- No Installation Services
Convenience:
- No pre-inspection of property required
- Virtual inspection by business owner required within 15 days
Coverages:
- Property
- General Liability
- Auto
- Inland Marine
- Umbrella
- Workers’ Comp (via ABM)
- And more!
Trying to quote a hardware store that doesn’t fit the above criteria? PLM has an appetite for hardware stores of all sizes – regardless of values, autos, or locations and can partner with you on a quote outside of the HardwareXpress program. Search our appetite with this eligibility tool.
CYBER THREATS – Continue in the Wood Industry
Cyberattacks continue to be found in the wood industry, sometimes reducing quarterly revenues by millions of dollars. It may difficult for operations in this industry to consider that they too are at risk for a shutdown not from a fire but instead on dedicated cyber methods, such as ransomware. While this recent attack happened in Canada, many similar events are and can happen in the US and within the wood industry. Now is the time to speak to your wood industry clients to see if they have the right coverage in place.
Preparing for Cyber Threats:
- Thorough Risk Assessment – work with professional partners to conduct an exam of how their systems work and which can be affected
- Build a Backup and Business Continuity Plan – set up secondary suppliers and formalize a plan of action for when things go wrong
- Hold Security Training – train staff on security awareness and best practices
- Check Access Control Management – keep systems and control up-to-date; know how to access the older systems so you don’t get locked out of important machines
Download additional resources for your client and also to keep in your producer files.
Interested to learn more? PLM is working to present more content to the broker community with leading industry partners to discuss cyber coverage amongst others. Stay tuned for upcoming announcements and webinars in the near future!
Recent Wins
Wondering about new business opportunities in your own neighborhood? Here are some examples of accounts successfully written by PLM or with WC placed through ABM.
PLM
Building Material Dealer – NY: $27,000
Wooden Crate Mfg. – GA: $200,000
Wood Distributor/Supplier – NJ: $88,000
Lumberyard – CT: $60,000
Building Material Dealer – FL: $150,000
Cabinet Mfg. Shop – OH: $16,000
Wooden Countertop Mfg. – IN: $53,000
Wood Furniture Mfg. – AL: $150,000
Building Material Dealer – KY: $16,000
Hardware Store – IN: $4,000
Custom Cabinet Mfg. – CA: $100,000
Building Material Dealer – OR: $95,000
Wood Furniture Mfg. – MO: $7,000
Building Material Dealer – WI: $20,000
Lumberyard – MT: $25,000
ABM
Building Material Dealer – CT: $30,000
Lumberyard – FL: $4,500
Hardware Store – PA: $3,000
Furniture Mfg. – NY: $6,000
Custom Cabinet Mfg. – NC: $3,400
Home Center / Supplies: OK: $2,000
Pallet Mfg. – IN: $10,000
Barrel Mfg – AL: 4,000
Custom Millwork Mfg. – AR: 15,000
Building Material Dealer: LA: $20,000
Wood Crate Mfg. – OK: $4,500
Building Material Dealer – MT: $5,000
Architectural Millwork Mfg. – MO: $6,000
Wooden Floor Dealer – CA: $13,000
Wood Distributor – ID: $11,000
Upcoming Events
Find PLM and ABM at these upcoming insurance conventions and trade show events:
- 06/04 – PIA NE – NY/NJ Joint Conference – Atlantic City, NJ
- 06/11 – IIAM – Annual Convention – Destin, FL
- 06/12 – IIARI – INSURECON – Newport, RI
- 06/14 – FAIA – Convention – Kissimmee, FL
- 06/18 – IIABL – Convention – Miramar Beach, FL
- 06/20 – AWIA – Annual Convention – Sheridan, WY
- 06/21 – IIAT – INSURCON – San Antonio, TX
- 06/25 – IIAV – Annual Convention – Virginia Beach, VA
- 07/12 – LAAIA – Annual Convention – Hollywood, FL
