“In the past, E&O coverage for seed dealers has been very cost-prohibitive,” says independent agent Shelly Turner. “Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.”
Shelly Turner
Agency Owner
Roland, Iowa
How did you get started at your agency?
I first started working with my dad who had been in the insurance industry for 40 years. I purchased his share of the business and am now the sole owner of The Crop Shop LLC.
Why errors & omissions for seed dealers?
We had several seed dealers that were also crop insurance clients. These clients expressed a need for E&O coverage within their seed business. When researching this, we got in touch with Pioneer, one of the companies that developed the first commercial seed corn for the market, to determine the needs of sales reps and if there was a partnership that could be forged. We have partnered with Pioneer for 12 years now. We also work with Becks Hybrids.
Challenges in the E&O crop market?
This is an extremely small, niche product. Our product is a one-of-a-kind policy and I am the only agent that sells it. We worked with Lloyd's in building the coverage for this market. My biggest challenge comes with the misunderstanding of what this E&O coverage offers a client. Another challenge is helping other agents recognize the availability of our specialized product.
In the past, E&O coverage for seed dealers has been very cost-prohibitive. Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.
Future trends?
As seed dealers become more technology-driven, our policy needs to grow and change. We are also seeing the increased use of biological seed treatments in the industry, so our policy also needs to be ahead of the curve to continue to offer the correct coverages. Currently, we offer a chemical sales endorsement, which is a unique coverage.
Advice for a fellow agent?
Specialize in one or two areas of insurance and become an expert. More and more businesses are homing in on one service, and I feel like the insurance industry is leaning in that direction as well. I love that I know a lot about one type of coverage and can offer extensive knowledge in that area.
I also have a network of other agents that I partner with to help my clients round out their insurance needs. Insurance encompasses a very wide industry and trying to be a fit for all risks is not possible. Educate yourself and try to pick a couple of areas to focus on.
Olivia Overman is IA content editor.
