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Business Risk Management: Scenarios and Solutions
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Presentation: FRiday, March 6, 2020

As business owners, have you ever considered how many risks you take every day? How many of them have the potential to change the course of your business or your life in an instant or over time?

When we think about risk, we often think “I have insurance for that” and often times, that is correct. However, what about the risks that insurance doesn’t cover? Your family, employees, customers, and community depend on you understanding those risks. Your reputation and your legacy are always on the line. Are you prepared for the threats and opportunities that will inevitably come your way?

John Smith of Pennsylvania Lumbermens Mutual Insurance Company will introduce a well-rounded and systematic approach to identifying and considering the risks you see and the risks you don’t see. With both insurance and non-insurance related examples supported by meaningful dialogue from your own industry peers, this session will make the case that understanding and considering risk deserves a seat at the table and in every business decision you are making.

About John Smith

John started his lifelong career in insurance in North Jersey in 1977 at Aetna Casualty as a Property Underwriter. In 1979 he joined CNA as a Sales Representative before moving to Pittsburgh in 1980 where he served as a Branch Sales Manager. He joined General Accident Insurance Company (GA) as the Branch Manager of their Pittsburgh office in 1984. He later (1990) relocated with GA to New York City and was appointed a Resident Vice President of their NYC Branch in 1994. In 1996 he was appointed Northeast Regional Vice President. He joined Pennsylvania Lumbermens Mutual Insurance Company (PLM) in 1998 as Vice President of Underwriting and is currently President and Chief Executive Officer and a member of the Board of Directors of PLM and Indiana Lumbermens Mutual Insurance Company which became affiliated with PLM in October of 2013.

Under his leadership PLM has grown from a tertiary regional player in the “wood” niche, to the market leader in this segment. They insure 6000 wood related business in 48 states that develops over $250m of written premium. PLM assets have grown from just over $100m with policyholder surplus of $60m to $540m and $149m respectively. While not a easily recognizable brand within the property casualty insurance industry, the PLM brand is recognized by the 30,000 plus wood businesses in America today as the premier property casualty insurance provider that has faithfully served the wood niche for 124 years.

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