HARTFORD, Conn.--(BUSINESS WIRE)--Hartford Steam Boiler (HSB), part of Munich Re, today 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.
Hartford Steam Boiler (HSB), part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150 year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, Twitter and Facebook.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season and the California wildfires in 2018. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyber attacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.