Issue link: http://palletcentral.uberflip.com/i/1534664
Pallet C e nt ral • May -Ju ne 2 0 25 21 A strong safety program should include the following: • A written commitment to safety from management • Comprehensive employee training • Protocols for personal protective equipment • Systems for hazard identification and control • Routine workplace inspections • Emergency response plans • Accident investigation procedures • Regular audits for continuous improvement By prioritizing safety, businesses can lower claims and enhance their risk profiles, leading to better insurance terms. 5. Rising Cyber Threats Cybercrime poses a growing risk to the wood industry, with threats like ransomware and operational sabotage becoming more sophisticated. Outdated systems are particularly vulnerable. To mitigate these risks, businesses should invest in regular employee training, system upgrades and maintenance, multifactor authentication, endpoint detection tools, and audit and recall plans for added protection. The Advantage Of Strategic Partnerships Pallet manufacturers that embrace collaboration across the supply chain and leverage partnerships with industry associations stand to gain a competitive edge. By sharing knowledge, advocating for supportive policies, and participating in initiatives that promote sustainable forestry practices, the wood industry can collectively address systemic challenges. is collaborative mindset not only strengthens individual companies but also enhances the resilience and sustainability of the entire sector, ensuring a prosperous future in a rapidly changing global market. The Role Of Customized Insurance Tailored insurance is essential for effective risk management in 2025. Unfortunately, many pallet manufacturers remain underinsured, leaving them vulnerable to significant losses. Insurance needs vary by company size, location, and operations, but essential coverages include General Liability, Commercial Property, Commercial Auto, Management Liability, and Workers' Compensation. Aligning policies with specific risks ensures comprehensive protection. Looking Ahead While 2025 will bring challenges, it will also offer opportunities for innovation and growth. By prioritizing strategic risk management, fostering workforce engagement, and building climate resilience, pallet manufacturers can thrive. Collaborating with experts, embracing data-driven approaches, and committing to sustainability will position those in the sector for long-term success. Paul Quandt, CIC, CFPS, CLCS, is the senior commercial lines insurance execu ve with global insurance brokerage HUB Interna onal's Oregon region and northwest leader of their Forest Products Division. With over 100 years' experience serving the forest products industry, Paul and his team specialize in addressing the unique environment and needs of the industry. He may be reached at www.hubinterna onal.com.