HSB, part of Munich Re. has launched HSB Precision Ag insurance, a suite of coverages for evolving farm data risks, technology and state-of-the-art equipment.
Designed for large commercial enterprises and smaller family farms, the coverage combines equipment breakdown and cyber insurance to offer protection for data-driven precision agriculture.
Precision Ag provides a choice of insurance endorsements and loss prevention services designed to stack and work together to cover potential gaps that can occur with standalone farm insurance policies.
The protection is available for the latest farming risks, including coverage for stationary equipment, electronics in the cab, key farming implements, and cybersecurity threats.
Operating in harsh conditions, farm machinery and electrical components are vulnerable to dust, chaff and other elements that can cause breakdowns and short circuits.
Precision Ag covers the physical breakdown of equipment and the failure of microcircuitry and firmware for sensors, monitors, cameras and other electronics inside the cabs of tractors and combines.
Coverage can be extended to portable agricultural implements, such as seeders, sprayers, spreaders and tillers, for both mechanical breakdowns and undetectable damage to the sensitive microelectronics that control them.
Precision Ag is also available with additional HSB farm cyber coverage and services for computer attacks and cyber extortion, including data restoration, income loss and expense, and system improvements to help prevent future cyber-related losses.
The extra cyber protection extends to personal devices used in the business of farming.
In addition to equipment breakdown and cyber insurance, Precision Ag offers HSB’s Internet of Things sensor services to help prevent losses on farm property.
Agribusiness risk management services can be provided by HSB specialists with experience in solar and wind systems, grain drying and storage, and poultry and hog confinement.
Precision Ag is available through property-casualty insurers who partner with HSB to add the coverage for their farm policyholders.
HSB 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.
Topics Tech Agribusiness
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