South Coast Lumber & Affiliates—Protecting Assets
The forest products business is about more than trees and manufacturing.
Much like the products they make and market worldwide, vertically integrated timberland owner and manufacturer South Coast Lumber and Affiliates (South Coast) is solid, dependable and long-lasting. As an economic force and major employer along the southern Oregon coast for over sixty years, their number-one goal is customer satisfaction. With that goal comes the flexibility to respond to customer needs and an unknown future business climate. For many years, Schwabe has been a trusted partner of the Brookings, Oregon, company, providing strategic legal services in a number of areas, including employment, tax, products liability and real estate.
In 2015, when South Coast decided it needed to find an affordable way to protect its standing timber assets, it collaborated with Schwabe’s experienced team, led by industry veteran Kirk Johansen, to find a solution. Working with Schwabe and its insurance broker, the South Coast team negotiated an affordable insurance product that gave them the flexibility to insure specific timber assets they wanted covered, and South Coast became a pioneer in purchasing standing timber insurance in the United States. The deal could not have been more timely, given the drought conditions experienced throughout the West. Risks covered by the insurance negotiated by South Coast and Schwabe are those arising from fire, lightning, explosion and aircraft.
South Coast CEO Ron Fallert appreciates their partnership with Schwabe, summing up the relationship with his own words: “With Schwabe, we have the best of both worlds: smart lawyers, with decades of institutional knowledge of our industry. The Schwabe team added the insight and skills we needed to negotiate the standing timber insurance policy and significantly expand our risk management.”