The Franklin Award is given to an individual, group or organization with significant achievements and contributions within the Delaware Valley region and the property/casualty insurance community as a whole. The award was presented at the virtual 2021 Philly I-Day yesterday.
Smith received the award for his inspiring contributions and commitment to the Philadelphia insurance community. Under his leadership, PLM has established itself as a leader within both the insurance and lumber industries. Since he assumed the role of president in 2004, PLM’s assets have grown from around $100 million to over $500 million, making PLM the largest mutual wood insurer in the nation.
“The Franklin Award is one of the most prestigious honors an insurance professional here can receive, and I am truly honored to be named this year’s recipient,” said Smith. “PLM is proud to be a leader within our industry and within our geographic region, dedicated to paving the way toward a better future for the insurance industry and for our community. Receiving this award is recognition of the incredible work we’ve done to improve professional development opportunities among our industry professionals and the wood niche, as well as support Philadelphia businesses and citizens.”
Smith is an active member of several insurance and regional associations. He’s been a member of the board of directors at the National Association of Mutual Insurance Companies (NAMIC) and the Insurance Society of Philadelphia (ISOP), in addition to serving on the board of the Western Hardwood Association (WHA) and the Firemen’s Hall Museum in Philadelphia. He was also previously chairman of the Pennsylvania Association of Mutual Insurance Companies and is currently a trustee on the Griffith Insurance Educational Leadership Council.
About Pennsylvania Lumbermens Mutual Insurance Company
Pennsylvania Lumbermens Mutual Insurance Company (PLM) (www.plmins.com) is a nationally recognized property and casualty insurance carrier serving the lumber, woodworking and building materials industries. Backed by 126 years of experience, the Philadelphia, Pennsylvania-based company protects over 5,000 businesses nationwide with property, general liability, inland marine, business automobile, commercial excess liability and equipment breakdown coverages.