A Look into PLM’s Latest A- (Excellent) Rating from AM Best

As the oldest, largest mutual insurer dedicated to wood-related businesses in the U.S., PLM is proud to be able to provide consistent and dependable support to our insureds and brokers across the wood niche.

This year, we are proud to once again share that we have earned an A- (Excellent) rating with a stable outlook from the AM Best Rating Services, Inc. The AM Best Rating takes a company’s balance sheet, strength, operating performance, and business profile into account and provides an evaluation of their current performance and outlook based on those criteria. The A- rating is given to insurers that demonstrated excellence in meeting the needs of their stakeholders.

These ratings are a vital tool for business owners in determining which insurer may be the right partner for their needs. The AM Best Rating provides a comprehensive look at an insurer’s track record to help prospective insureds, brokers, reinsurers, and others ascertain how reliable an insurer may be before going into business with them. In an industry like ours, where losses are often severe and costly, knowing you’re working with a trusted, dependable insurer is invaluable.

A company with a strong rating indicates they have a healthy balance sheet and can be counted on to honor their policies throughout the term of their agreement. For example, here at PLM, we only work with reinsurers that have an A- rating or better, because we know and understand the value of that AM Best seal of approval.

Before partnering with any insurer, one should take the time to review the insurer’s AM Best Rating and outlook. This way, business owners and brokers can confirm and take comfort in the fact that they will be working with a business that has a history of financial strength and dependability, as well as a promising future.