Rooted in Success, Growing Toward Tomorrow: Protecting What Matters Most

As we step into 2025, the events of the past year remain fresh in our minds. Two major hurricanes devastated many of our customers, families, and friends, underscoring the critical importance of insurance coverage that’s not only comprehensive but truly sufficient to weather unexpected disasters.

At Forestry Mutual Insurance, we’ve always been committed to being more than an insurance provider— we’re your partner in protecting what matters most. This past year, we’ve seen firsthand the devastating consequences of underinsurance and the hidden costs that come with cutting corners.

Whether it’s your business or personal property, now is the time to review your insurance program to ensure you have the coverage you need to face life’s uncertainties.

Lessons Learned From 2024

As someone with decades in the insurance industry, I’ve seen countless examples of how insufficient coverage can turn a crisis into a financial catastrophe. One of the most memorable moments in my career was when a customer canceled his homeowner’s insurance after paying off his mortgage. He believed the expense was unnecessary—until a fire destroyed his home just weeks later, leaving his family with no financial support to rebuild.

These experiences have taught me a valuable lesson: insurance isn’t just about financial protection; it’s about peace of mind.

The Risks Of Being Underinsured

Being underinsured—or uninsured altogether—can have devastating consequences. Here are three key considerations to ensure your coverage is adequate:

1. Do You Have Proper Limits to Cover a Loss? Regularly review your policies to ensure your limits keep pace with inflation and current market costs for rebuilding or repairs. Outdated policies can leave you with significant out-of-pocket expenses.

2. Are You Prioritizing Price Over Protection? The cheapest policy may save a few dollars now, but inadequate coverage can lead to massive financial burdens during a disaster. Balance affordability with comprehensive protection.

3. What Happens When Catastrophe Strikes? Hurricanes, floods, and other disasters emphasize the need for robust insurance. Without proper coverage, recovery can mean depleting savings or taking on significant debt.

FLOOD INSURANCE: A CRITICAL SAFETY NET

One of the most overlooked coverages is flood insurance, which is excluded from standard homeowners and business policies. Yet flooding is one of the most common and costly disasters.

Even properties outside high-risk zones are vulnerable—25% of flood claims come from low-risk areas. With just one inch of water causing over $25,000 in damages, flood insurance is essential for protecting your home or business from financial devastation.

Take Action Today

2024 reminded us all of the importance of being prepared. Now is the time to review your insurance program to ensure your limits are sufficient, your coverage is comprehensive, and you’re protected against overlooked risks like flooding.

At Forestry Mutual, we’re here to help you navigate these decisions. Our Loss Control team continues to work tirelessly to support your safety, and I encourage you to reach out to Greg Plumley, our Loss Control Director, at gplumley@forestrymutual.com if you’d like to learn more about how our training and educational resources can help safeguard your business.

As we move into 2025, let’s remain rooted in success and grow toward tomorrow. Thank you for trusting Forestry Mutual Insurance to protect what matters most to you. Here’s to a safe and prosperous year for all.

The U.S. Occupational Safety and Health Administration (OSHA) has issued a final rule requiring employers to notify OSHA when an employee is killed on the job or suffers a work-related hospitalization, amputation, or loss of an eye.

Under the revised severe injury rule, employers will be required to notify OSHA of work-related fatalities within 8 hours and work-related in-patient hospitalizations, amputations, or losses of an eye within 24 hours.

Previously, OSHA’s regulations required an employer to report only work-related fatalities and in-patient hospitalizations of three or more employees. Reporting single hospitalizations, amputations, or loss of an eye was not required under the previous rule.

The rule, which also updates the list of employers partially exempt from OSHA record-keeping requirements, this requirement went into effect on Jan. 1, 2015, for workplaces under federal OSHA jurisdiction. The new rule maintains the exemption for any employer with ten or fewer employees, regardless of industry classification, from the requirement to routinely keep records of worker injuries and illnesses.

All employers covered by the Occupational Safety and Health Act, even those exempt from maintaining injury and illness records, must comply with OSHA’s new severe injury and illness reporting requirements.

To assist employers, OSHA has implemented a web portal for employers to report incidents electronically, in addition to the phone reporting options.

For more information, go to: https://www.osha.gov/severeinjury

By Bill Dine, CEO,Forestry Mutual Insurance Company