We’re very excited to unveil our latest video from our new blog series titled “Insights from the Top: 3 Questions with PLM Leaders.” Every month, we’ll feature a different member of our leadership team, offering their perspectives on industry trends and the crucial role PLM plays in addressing the needs of the wood niche.
In this month’s edition, we are joined by SVP of Accounting – John Marazzo
Question: Why is it financially wise to share with PLM?
John Marazzo: PLM are the experts in the lumber industry. When it comes to insurance, we have an experienced staff that understand your business and the best way to protect it. If I own the Chevy, I’m going to want to look at somebody who deals with Chevy specifically. That’s no different here. We want to you want to deal with somebody that’s an expert in lumber yards or sawmills. I want to work with that expert in that area knowing that I’m getting the best value for my money. I’ve had many conversations with our lost control staff, and you could tell right away that they understand what the insureds are dealing with on a day-to-day basis. They know and understand how the equipment is utilized each day, and they can recommend the best way to service that equipment to help keep our insureds running their business with little interruption.
Q: What are some easy ways insureds can avoid turmoil?
JM: Each business is different in how they run their operations. It would be hard to provide a standard response on how to avoid financial turmoil. The one thing that I would strongly suggest is meeting with an insurance professional and working with them to figure out the best way to protect your business utilizing insurance. There are plenty of ways to mitigate your risk in your business, but unless you talk to the experts, you may be buying excess coverage for something that has a low probability from occurring in the lumber industry. PLM understands what type of exposure you might have, and more than likely have encountered a similar situation with another insured. They will be able to provide several options that would best fit you and your business.
Q: What is your best piece of financial advice for brokers and insureds?
JM: If you are a broker insured in the wood niche, you want to strongly consider buying insurance with an expert in that field, and that would be PLM. I have attended many trade shows over the last few years, and I’ve been approached by both insurers and non insureds. They come up to me to complement the videos that are produced by our lost control department, which is made available to everyone who visits our website. No one wants to ever experience a loss. When it does happen, you want to make sure that you’re with a carrier that is looking out for you. I can say without hesitation, PLM is that carrier. I have worked in the insurance industry for almost 40 years and I’ve never heard of an insurance carrier reaching out to their insureds prior to a lost event. Every time there is a notification that a weather related event is headed to a certain area, our customer service group gets a list of all the insurers that are in that area and they call them prior to the event, during the event and after the event to make sure they’re okay. If they happen to incur any damages, we’ll get the information and help them process their claim. That is a perfect example of why PLM has the reputation they have. They care about their insureds, and they make sure that they are around for many years to come.
