3 ways wood product manufacturers can reduce insurance premiums
July 11, 2022
By Canadian Biomass staff
“The explosions that occurred at the Babine Forest Products and Lakeland Mills sawmills in 2012 resulted in four deaths, over 40 people injured, job losses of industry veterans as well as lengthy investigations and a class action lawsuit. It was estimated to have cost insurance carriers between $25 to $100 million for just one of these claims,” says Will Downing, a CapriCMW Risk Advisor specializing in wood product manufacturing.
Downing says there have been steady increases in insurance premiums for the wood product industry since 2012. In his CFI feature article, he discusses the biggest concerns for insurance carriers and what you can do to reduce your premiums.
This article is part of Dust Safety Week 2022. To read more articles on dust safety, click here.
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