The Wood Products Manufacturers Association and Pennsylvania Lumbermens Mutual Insurance Co. will provide a 7.5 percent cash dividend to the Association's 2017 Safety Group.
Those members who were PLM policyholders during the year of 2017 will be receiving their dividends based on all lines of coverage with PLM except Umbrella coverage. Those members who were not enrolled in the program for the entire year will still receive a dividend that is pro-rated based on the number of months they were PLM policyholders and enrolled in the group. Checks will be mailed or delivered to members in the next couple weeks.
WPMA's program has dividends in seven to 10 years and has averaged a 4.15 percent cash dividend since its inception. This year PLM is returning $516,160 to WPMA members.
For those companies enrolled in the 2018 program, the Association's current loss ratio through April 30, 2018 is 36 percent. WPMA must finish the year at below 50 percent for the potential of a possible dividend.
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