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Increasing Lumber Prices and Your Insurance

Over the past few years, the forest products industry has seen an uptick in lumber prices with more significant increases just this year. On the surface, this is great news and serves the industry in many ways. Increasing lumber prices drive greater margins and profits which lead to expansion, reinvestment resulting in better safety and working conditions for employees, higher employment, and higher wages. What many mill and manufacturing company owners may not think about is how the increase in prices can affect their insurance. Often, insurance is an afterthought, especially in a market of increasing margins and profitability. It… Read more »

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