Munich Re subsidiary Hartford Steam Boiler (HSB) has launched a new HSB Farm Cyber Insurance solution.
HSB Farm Cyber Insurance is designed to shield farmers and farm technology from hackers, malware and other cyber-attacks.
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The offering, according to the company, will protect farmers against cyber-attacks involving computers and electronic devices located about the farm premises, including the farm owner’s residence.
Losses due to a data breach, computer attack, cyber extortion, or misdirected payment fraud will be covered by the offering.
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 will offer coverage for the farm family, including identity theft, online fraud, and cyber bullying.
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By GlobalDataIt will also cover damage from cyber-attacks on the family’s computer systems and connected home devices.
HSB added that its latest offering can also be bundled with its Farm Equipment Breakdown Insurance, which covers the repair or replacement of farm equipment.
James Hajjar, who leads the cyber practice for HSB’s reinsurance clients, said: “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.
“With this new reliance on digital information and technology comes new digital security exposures.”
