PLM

According to the National Safety Council, forklift accidents led to nearly 25,000 days away from work for employees and were the source of 73 work related deaths in 2022. While this figure accounts for forklift accidents across all industries, lumber and building material dealers, which are largely dependent on these machines for transporting inventory, are particularly at risk.

Distracted driving is a societal issue and a rising threat to everyone on the road. Business owners cannot afford for their drivers to be off their game for even a minute.

Last year Pennsylvania Lumbermen’s Mutual Insurance Company (PLM) noted a roughly 200% increase in claims related to wind and hailstorms. These spikes were found across a wide range of industry businesses. Such storms can put the business, staff members, and customers at risk.

Though the impact of a natural disaster cannot be predicted, good insurance coverage is key to ensuring business owners are not subject to financial hardship as a result.

What can lumber businesses do to limit their losses on the commercial auto front and make their business more insurable? A proactive approach to risk management and a companywide commitment to embracing and implementing the best practices available are essential.

Maybe, you think, “it won’t happen to me or my business.” Maybe, you think, “there’s nothing I can do.”  But there is.

With industries across the spectrum and around the world struggling to find good labor, employers are often settling for less.

Any significant event could leave inventory heavily damaged and force businesses to pause their operations.

It is important to understand businesses in the wood niche are not immune to cyber related crimes.

As the world continues to change, business owners, including those in the lumber and building material industries, will need to understand their changing risks and take steps to protect their businesses.