Cybersecurity has been a concern for commercial industries for some time. In the agricultural sector, advancements in technology and the ‘internet of things’ have increased exposures beyond office computer systems to other equipment used in the operations connected to the web. Further, cyber-attacks have risen with the increase in remote work due to COVID-19.
Cyber-attacks come in a variety of shapes and sizes. Theft of customer and employee information, cyber extortion through ransomware, and phishing campaigns are just a few examples. The list has grown as hackers learn new tricks and target companies of all sizes. Some attackers focus on a high volume of smaller, ‘less savvy’ companies with weaker defenses. Others like the challenge and payday of larger corporations.
To avoid becoming the next victim, implement steps to prevent unwanted attacks. These include consistent employee training, frequent backups, systems security software, and essential risk management around handling personal information. Hire an expert to test and review technology systems and practices if needed.
Cyber Liability Insurance provides a financial backstop if a system is breached. Including both first-party (paying for direct or indirect losses) and third-party (providing liability coverage for when third-party information is accessed). Cyber Liability products can be constructed to fit your specific needs and exposures.
A Cyber Liability Policy goes beyond providing insurance coverage. Most carriers offer helpful risk management guidelines, emergency response resources, and even built-in pre-event consulting.
If you have questions about cyber threats, or would like to learn more about effective cyber coverage, please contact the Palomar Egg Team.
Brett Cohrs – firstname.lastname@example.org
Stokes Rodgers – email@example.com
Lisa Breakwell – firstname.lastname@example.org
Evan Strother – email@example.com