You may have seen us talk about Green Tree Risk Partners, formerly Allied Building Material Agency (ABM), many times over the past couple of years. We have referenced Green Tree in our communications, articles, and marketing materials, especially when referring to workers’ compensation. But what is Green Tree Risk Partners exactly? How does it work in relation to Pennsylvania Lumbermens Mutual Insurance Company (PLM)? And how does it benefit you?
The History Behind Green Tree
Green Tree Risk Partners, then called Allied Building Material Agency (ABM), was incorporated in 1935 as an insurance brokerage affiliated with Indiana Lumbermens Mutual Insurance Company (ILM). When PLM acquired ILM in 2013, ABM was a part of the deal, but the operation of the agency remained dormant.
In January 2020, PLM reactivated ABM for business as a wholesale brokerage to offer a workers’ compensation solution for PLM’s customers and brokers. Three years later, in June 2023, the brokerage was rebranded as Green Tree Risk Partners, named after the historic Mutual Assurance Company for Insuring Houses from Loss by Fire, commonly referred to as the Green Tree. The original company was formed out of a need for coverage on buildings that had trees near it, a risk that the Philadelphia Contributionship was no longer insuring. We felt that the new Green Tree Risk Partners name more accurately reflected the agency’s commitment to the niche as we strive to provide additional coverage solutions to businesses throughout the lumber and building materials industries.
The Process of Green Tree
As a member company of PLM, Green Tree allows us to utilize both companies to be the one-stop for all wood-related business insurance needs to offer a complete and more tailored program for our insureds and brokers. Green Tree not only allows us to help place workers’ comp for existing PLM policies, a coverage that PLM does not offer, it also provides an outlet for risks in the wood niche that may not meet PLM’s underwriting standards or fit in PLM’s appetite.
So, what does that mean? There are certain types of businesses in the wood niche that may be outside PLM’s risk appetite for one reason or another. Pallet recycling is an example of this. When we receive a pallet recycler submission to PLM, we can refer it to Green Tree who then places it with another trusted insurance carrier that is willing to take on the risk. Or in another situation, a building material dealer may have an auto line that doesn’t fit in PLM’s underwriting standards. PLM can quote the property and other lines of coverage for the business but would refer the auto line to Green Tree to find a market. There is a myriad of these types of scenarios, but in the end, PLM and Green Tree are working together with a shared commitment to finding the best insurance protection for our customers and brokers.
Benefits for Brokers
Through Green Tree Risk Partners, we are able to offer new options, new services, and new possibilities for our brokers with access to various A-rated insurance carriers that can fit almost any need in the wood niche. Brokers can fold workers’ compensation quotes seamlessly to PLM’s business and renewal processes. They also will gain access to additional markets to help with hard-to-place coverages and risks. Brokers would continue to represent their clients while maintaining their relationships with their trusted PLM contacts. Overall, this helps to streamline the quoting process, reduces acquisition costs, and allows PLM and Green Tree to be their one-stop shop for an agency’s wood business.
Benefits for Insureds
For insureds, the addition of Green Tree provides them with more solutions for a tailored insurance program. It allows PLM customers to keep their insurance program in the PLM Group for all their business insurance needs, including workers’ compensation. This means continued access to PLM’s expertise, the trusted relationships with their Business Development Representatives, and the consultative services and resources of our Loss Control department. Through PLM and Green Tree, we are able provide our insureds with the most comprehensive insurance program in place to make them whole in the event of a loss.
For more information, visit greentreerisk.com. Green Tree Risk Partners, a PLM Group company, also doing business as Allied Building Material Agency, Inc. (ABM) and in CA as Allied Building Material Insurance Agency, Inc., License #0H31905.
