Sentry Partnership Brings Strength to Members, Association

When you look for examples of successful partnerships between any trade association and industries serving association members, it would be hard to find one that has a more proven record of providing value to members than our partnership with Sentry Insurance. 

Since 1975, Sentry Insurance Co. and the Farm Equipment Manufacturers Association have worked together to provide products liability coverage to farm equipment manufacturers and wholesale distributors.

We are pleased to report that members of our Association who hold product liability policies with Sentry Insurance will receive a dividend check again this year.

Sentry Insurance Co. announced this week an average dividend of 7.8 percent for product liability insurance participants whose policy expired in the 2018 calendar year.

Due to the tiered dividend program, those in the first year with their policy expiring in 2018 will receive 2.7 percent of their premium as a dividend. Those in the program for two years will receive a 5.3 percent dividend, and those in the program for three or more full years will receive an 8 percent dividend.

Participants in our products liability program also qualify for consideration in Sentry’s package policy program, which includes property, inland marine, crime, premises liability, auto, cyber liability, umbrella, Employment Practices Liability (EPLI) and workers compensation coverages. Currently, 224 Canadian and U.S. companies participate in the products liability program, and an additional 129 companies participate in the property and casualty program, which includes workers compensation insurance.

Vernon Schmidt, the Association’s executive vice president, said that when a member and policyholder faces a claim, Sentry excels in its response.

“The most important test of any insurance program is how it responds when claims occur,” Schmidt said. “Sentry’s knowledgeable and experienced claims professionals have a proven record with our members of delivering fast and fair settlements. Its claims professionals understand the unique exposures that farm equipment manufacturers face and are committed to providing fast and fair claims resolution.”

Schmidt added, “While annual dividends payments to policyholders are never guaranteed, Sentry’s in-depth experience working with farm equipment manufacturers continues to help them understand our members’ unique exposures. Their safety-related programs and services are second to none and are proven year-after-year to reduce risks in our industry.” 

The Association expects to mail dividend checks during the second week of December to clients whose policies were due to renew between January and October of this year.   

If you would like to learn more about our programs with Sentry Insurance, please visit with Shane Beversdorf and his team during our convention in Minneapolis, or get in touch with Beversdorf at (715) 346-6985 or Shane.Beversdorf@Sentry.com.