{"id":89043,"date":"2025-07-08T04:54:31","date_gmt":"2025-07-08T04:54:31","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/north-american-insurance-industry-warns-of-higher-claims-in-wood-products-as-market-volatility-rises\/"},"modified":"2025-09-19T09:04:35","modified_gmt":"2025-09-19T09:04:35","slug":"north-american-insurance-industry-warns-of-higher-claims-in-wood-products-as-market-volatility-rises","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/north-american-insurance-industry-warns-of-higher-claims-in-wood-products-as-market-volatility-rises\/","title":{"rendered":"North American insurance industry warns of higher claims in wood products as market volatility rises"},"content":{"rendered":"

<\/span>Surging raw material costs, high tariffs on Canadian lumber, and shifting global trade flows are driving up insurance premiums and exposing valuation gaps across the North American wood products sector.<\/p>\n

Insurers are warning of rising claims and stricter underwriting as companies face mounting rebuild costs, limited domestic supply, and unpredictable stock valuations.<\/p>\n

\u201cClaim settlement costs are going to increase,\u201d said Connor Peterson of Keith D. Peterson & Company, a U.S.-based commercial insurance firm with clients in the wood sector. \u201cValuation models are outdated, and a lot of the raw materials or components are still imported.\u201d<\/p>\n

Tariffs distort coverage calculations<\/strong><\/p>\n

U.S. softwood imports from Canada\u2014still subject to duties of up to 40%\u2014remain a critical variable in insurance calculations. If domestic supply is exhausted and companies restock from Canada, replacement costs can increase sharply.<\/p>\n

\u201cThat is a valuation issue,\u201d Peterson said. \u201cIf policies don\u2019t reflect the real costs under current tariff conditions, companies risk co-insurance penalties.\u201d<\/p>\n

Since 2021, U.S. lumber prices have climbed more than 20%, partly due to trade measures and construction-related demand, including from EV plant projects. Roughly one-fifth of softwood output also feeds into the paper industry, adding further pressure on stock availability.<\/p>\n

Insurance market turns cautious<\/strong><\/p>\n

With inflation still affecting materials and labor, insurers are reassessing exposure in sectors tied to volatile commodities like lumber. Market turbulence has also pushed many carriers to shift capital from equities into safer instruments such as bonds, tightening capacity for high-risk policies.<\/p>\n

\u201cIf there\u2019s a property loss, it costs more to fix it now,\u201d Peterson said. \u201cThat gap is growing for clients who haven\u2019t adjusted their insured values.\u201d<\/p>\n

Coverage for stored inventory is another concern. Many wood businesses still carry large stockpiles accumulated during the COVID-19 supply crunch. However, warehousing remains limited, and prolonged outdoor exposure introduces new insurance risks.<\/p>\n

\u201cIs that excess stock insured, and how is it valued?\u201d Peterson said. \u201cThese are real questions insurers are now asking.\u201d<\/p>\n

SMEs face limits in adapting<\/strong><\/p>\n

Small and mid-sized wood producers\u2014particularly in the hardwood segment\u2014are struggling to keep up with market and insurance pressures. Some have shifted exports from China to Europe or Vietnam, but limited margins prevent most from making significant investments or product pivots.<\/p>\n

\u201cThey\u2019re doing what they can to survive,\u201d said Peterson. \u201cBut most don\u2019t have the capital to move into things like railroad ties or timber mats.\u201d<\/p>\n

Policy adjustments likely<\/strong><\/p>\n

Analysts expect further tightening in underwriting criteria and a growing reliance on specialty insurance programs for wood-sector risks. With U.S. trade policy subject to sudden changes, insurers and brokers are encouraging quarterly policy reviews and flexible coverage models.<\/p>\n

\u201cMarket volatility is the new normal,\u201d Peterson said. \u201cWithout proactive policy updates, many companies are at risk of underinsurance.\u201d<\/p>","protected":false},"excerpt":{"rendered":"

Surging raw material costs, high tariffs on Canadian lumber, and shifting global trade flows are driving up insurance premiums and exposing valuation gaps across the North American wood products sector. 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