Hartford Steam Boiler (HSB), part of Munich Re, announced a new HSB Farm Cyber Insurance solution that helps protect farmers and farm technology from hackers, malware and other cyber attacks.
“Innovative technologies are being deployed across the farming industry and data and information systems are helping farmers better understand how to maximize efficiency and production,” said James Hajjar, who leads the cyber practice for HSB’s reinsurance clients. “With this new reliance on digital information and technology comes new digital security exposures.”
HSB Farm Cyber Insurance protects farmers against cyber attacks involving computers and electronic devices located about the farm premises, including the farm owner’s residence.
Coverage for commercial farm exposures can include losses due to a data breach, computer attack, cyber extortion, or misdirected payment fraud.
Data collected across the farm, from farm machinery to drones, is protected, with coverage for the costs of restoring data and systems in the event of a cyber event, as well as the loss of income.
HSB Farm Cyber Insurance also offers coverage for the farm family, including identity theft, online fraud, cyber bullying, and damage from cyber attacks on the family’s computer systems and connected home devices.
HSB’s cyber coverage is available as an endorsement to insurance companies that partner with HSB to offer coverage to their customers.
HSB Farm Cyber Insurance also can be bundled with HSB’s Farm Equipment Breakdown Insurance, which covers the repair or replacement of farm equipment.