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Today’s technology is as integral to farming as rain and sunlight. Modern farming is a marvel of innovation, from tractors driven by GPS satellites to sophisticated irrigation systems controlled by smartphones. But with these advancements comes a new risk: cyber threats. Protecting your farm from digital dangers is just as crucial as guarding it against pests and natural disasters. This is where cyber insurance comes in.

Understanding Cyber Threats on the Farm

At first glance, a farm might seem an unlikely target for cybercriminals. However, the reality is quite different. Farms increasingly depend on technology for efficient operations, making them susceptible to cyberattacks. Here are some potential threats:

1. System Hacking: Unauthorized access to your farm’s data and control systems can lead to disastrous consequences. Imagine if someone took control of your irrigation system or altered the settings on your automated milking machines.
2. Data Breaches: Sensitive information, including financial records and proprietary data, can be stolen and used maliciously.
3. Ransomware: This type of malware encrypts your data, rendering it inaccessible until the attacker demands a ransom.

The Role of Cyber Insurance

Cyber insurance is designed to help protect your farm against digital threats. Here are some reasons why it’s essential:

1. Financial Protection: In a cyberattack, costs can quickly increase. Cyber insurance provides a financial safety net, whether it’s paying a ransom or covering the expenses of restoring your systems.
2. Data Recovery: Losing access to critical data can cripple your operations. Cyber insurance often includes services to help recover and restore lost data.
3. Legal and Regulatory Compliance: A cyberattack could expose you to legal liabilities and compliance issues. Cyber insurance can cover legal fees and regulatory fines.
4. Expert Support: Many cyber insurance policies offer access to cybersecurity experts who can help you prevent attacks and recover from them if they occur.

A Real-Life Example

Take the case of a large dairy farm that relies on automated milking systems. When the farm’s network was hacked, the attackers took control of the milking machines, halting operations and leading to significant financial losses. With a robust cyber insurance policy in place, the farm was able to cover the costs of the ransom, restore the systems, and receive expert guidance to prevent future incidents.

Steps to Secure Your Farm

While cyber insurance is crucial, it’s also important to take proactive steps to protect your farm:

1. Keep Software Updated: Ensure all your systems and software are regularly updated to protect against vulnerabilities.
2. Educate Your Team: Train your employees on the importance of cybersecurity and best practices to avoid falling victim to phishing attacks or other schemes.
3. Use Strong Passwords: Implement robust password policies and use multi-factor authentication.
4. Backup Data Regularly: Make sure you have current backups stored in a secure location.

Conclusion

As technology transforms farming, protecting your operations from cyber threats is more critical than ever. Cyber insurance is a powerful tool to help safeguard your livelihood, giving you peace of mind in an increasingly digital world. By taking proactive measures and investing in a comprehensive cyber insurance policy, you can ensure that your farm remains resilient and productive, no matter what cyber challenges come your way.

Ready to protect your farm from cyber threats? Contact one of our Farm Team Members today to learn more about the right cyber insurance policy for your needs.

Sincerely,

Scott Jensen
Vice President of Farm and Ag Services- Partner

In today’s complex healthcare environment, clear communication about employee healthcare plans is essential. As organizations strive to create a culture of transparency and support, effective communication can empower employees to make informed health decisions. Here are some reasons why prioritizing communications about healthcare plans is crucial for employers:

• Enhances Understanding and Participation: Clearly explaining the components of healthcare plans including premiums, deductibles, and co-pays—enables employees to understand what services are covered. When employees comprehend their healthcare options, they are more likely to enroll and utilize the benefits provided by their employer, which can lead to better health outcomes through active participation in wellness programs and preventative care initiatives.
• Facilitates Informed Decision-Making and Reduces Confusion: By providing regular updates about benefits, including any changes or enhancements, employees can make informed choices that fit their individual healthcare needs. Hosting Q&A sessions or informational webinars creates an open line of
communication, allowing concerns to be addressed and reducing misunderstandings.
• Drives Employee Satisfaction and Cultivates a Culture of Health: Transparent communication about healthcare plans showcases an organization’s commitment to valuing its employees and their well-being. This fosters trust and enhances job satisfaction, contributing to higher retention rates. Moreover, ongoing education encourages employees to prioritize their health, reinforcing a workplace culture that supports collective health initiatives.
• Addresses Concerns Related to Changing Healthcare Policies: In a rapidly evolving healthcare landscape, informing employees about regulatory changes or policy updates is vital. Timely communication can alleviate anxiety and uncertainty, ensuring that employees feel supported amid transitions.

In conclusion, prioritizing effective employee communications regarding healthcare plans is essential for fostering a healthy, engaged, and informed workforce. By enhancing understanding, encouraging participation, and addressing concerns, organizations can create an environment where employees feel empowered to take charge of their health. Investing in these communication efforts not only strengthens employee satisfaction and retention but also contributes to a healthier organization overall. Let’s prioritize clear communication and work together to build healthier workplaces!

For additional information regarding strategies for employee communication, please contact Mike Holley, Vice President – Life & Health for Dimond Bros Ins.

It’s not uncommon for rental car agencies to offer you the opportunity to purchase additional auto coverages on your rental, but do you need them? We have the answers!

Why Car Rental Insurance?

The best time to make the decision about whether you will need extra rental car insurance is before you’re standing at the car rental counter.

Collision Damage Waiver (CDW), or Loss Damage Waiver (LDW), relieves you of financial responsibility if your rental car is damaged or stolen. If you have comprehensive and collision on your own car, you most likely do not need to purchase CDW from the rental car agency. Additionally, your credit card company may include some collision and theft protection if the rental car is paid for with your card. If your credit car doesn’t offer coverage for loss of use, you may want to consider purchasing CDW from the rental agency.

Liability insurance provides excess liability coverage of up to $1 million for the time you rent a car. Rental companies are required by law to provide the minimum level of liability insurance required by your state. If you have adequate liability coverage on your car or an umbrella policy on your home/auto, you may consider forgoing this additional insurance.

Renting Outside the U.S.?

In general, your U.S. Auto Insurance does not cover you abroad. Car rental agencies overseas usually provide auto insurance, but in some countries, the required coverage is minimal. When renting a car overseas, consider purchasing insurance coverage that is at least equivalent to that which you carry at home.

Auto Policy Options

If you don’t have comprehensive and collision coverage on your own car, you will not be covered if your rental car is stolen or if it is damaged in an accident. Collision coverage pays for damage to the car you’re driving if you crash into another car or object, or the car rolls over.

A non-owner auto liability insurance policy covers you for the damage that you may cause to someone else’s property and liability in the event of an accident. The policy will also provide medical payments coverage for you and your passengers, and under-insured and uninsured coverage. This pays for the cost of an accident involving a hit-and-run driver or a driver who has little or no insurance.

If you drive an older vehicle, but plan to rent a luxury vehicle, make sure that your policy will cover the complete cost of the replacement value of the vehicle you are renting.

An umbrella liability policy is also an option to meet the underlying auto insurance policy requirements when renting a vehicle.

Finally, if you are renting a vehicle that is not classified as a passenger car (such as a moving truck, 15-passenger van, etc.), you must purchase a separate policy from the rental company to be covered in that vehicle.

January is Financial Wellness month, which was meant to remind us to give our financial wellbeing some extra attention starting the new year. We all know that financial stress can be a burden, but it can also have a negative effect on your health. Understanding the relationship between financial and physical wellness can help you improve both areas of your life.

Financial stress often causes anxiety, depression and hopelessness, and that stress can also contribute to heart disease, high blood pressure, insomnia, more frequent colds and minor illnesses and more. Plus, many cope with financial stress in unhealthy ways, such as smoking, drinking and over-eating, which can decrease overall health.

Here are healthy ways to cope with that stress and make it more manageable:

1. Recognize your unhealthy coping methods and find alternatives such as meditation, exercising or talking with a friend.
2. Take care of yourself.  Get enough sleep, eat right, drink plenty of water and exercise regularly.  Make time for yourself to just relax and unwind.
3. Talk to an advisor regarding your financial troubles.  You won’t be able to fix them overnight, but having a plan of action can help you feel in control and minimize feelings of hopelessness.
4. Access the many free resources available on YouTube, Search Engines to find a budget tracking system that will work best for you.  There are many free or cost effective apps, tools, and guidebooks to assist you.

Know that you aren’t alone and utilize this month to help make a plan to get your financial wellness back on track!

This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice.

Recent research from the Centers for Disease Control and Prevention found that drivers ages 16-19 are more likely to be involved in a motor vehicle crash than any other age group. Nevertheless, newly licensed teens can avoid accidents by upholding safe driving practices on the road. Be sure to give your teen the following tips for staying safe behind the wheel.

• Always use your seat belt, even if you’re just going for a short drive down the block.
• Never drive under the influence of drugs or alcohol. Remember that prescription medications can impact your driving, too.
• Avoid driving at night if you don’t have much experience behind the wheel.
• Watch the forecast to avoid any inclement weather.
• Always try to stay at least four seconds behind the vehicle in front of you. This can help give you more reaction time in the event of an emergency.
• Never use your cellphone in your car.
• Don’t drive with more than one other person in your car until you feel more comfortable behind the wheel—this will help you to stay focused on the road and the traffic around you.
• If you ever feel uncomfortable driving or feel as though the road conditions are too dangerous, pull over and par your vehicle as soon as it is safe to do so.

Tips for Parents

In addition to giving your newly licensed teen this guidance, you can take precautions to help them stay safe behind the wheel as well. Be sure to have open conversations with your teen about driving risks to ensure they understand how serious the consequences of unsafe behaviors can be.

Further, remember that when it comes to driving, your teen will follow your lead. Make sure you set a good example by following the rules of the road whenever you get behind the wheel. Lastly, it’s vital to protect your teen driver as they hit the road by updating your auto insurance policy. For coverage guidance, contact us today.

This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice.

In today’s increasingly litigious environment, lawsuits stemming from liability incidents have surged in frequency and severity, leaving many organizations with substantial losses. Due to the complex nature of these losses, they could potentially surpass organizations’ primary liability coverage limits, which refer to the maximum amount that an insurer will pay toward a claim. In these instances, such losses could exacerbate organizations’ out-of-pocket expenses and pose lasting financial challenges. Fortunately, that’s where commercial umbrella insurance can help. This coverage can provide financial protection for losses that exceed the policy limits found within an organization’s standard liability insurance portfolio. In other words, commercial umbrella insurance offers an additional safety net by stepping in to cover the remainder of large-scale losses after primary liability policy limits have been exhausted. Such coverage can make all the difference in helping organizations minimize out-of-pocket expenses amid costly liability incidents.

With this in mind, organizations should clearly understand this coverage and its main protections. This article highlights the value of commercial umbrella insurance by explaining common policy features and outlining key coverage benefits.

Common Policy Features

Commercial umbrella insurance is a flexible form of coverage that can help supplement several traditional liability policies, including general liability insurance, commercial auto coverage and employment practices liability insurance. If an organization experiences a covered event under one of these policies but total losses exceed the policy’s limit, commercial umbrella insurance may help pay for the remaining expenses. For example, suppose an organization encounters a lawsuit after one of its commercial vehicles is involved in an accident that injures other drivers on the road. If the lawsuit generates $1.25 million in losses and the organization’s commercial auto coverage has a $1 million policy limit, commercial umbrella insurance could help pay for the remaining $250,000 in losses once that primary policy limit has been exhausted.

Commercial umbrella coverage usually applies to losses involving liability-related litigation. Taking a closer look at the main components of this coverage, here are some common policy features:

Insurers generally offer commercial umbrella policies with aggregate limits between $1 million and $15 million, sold in increments of $1 million. The amount of coverage needed will depend on an organization’s industry, operations and related exposures. Organizations can consult insurance professionals to discuss their unique risks and determine appropriate levels of commercial umbrella coverage.

Key Coverage Benefits

Organizations may need commercial umbrella insurance for a wide range of reasons. Here are some key coverage benefits for organizations to consider:

Conclusion

Commercial umbrella insurance plays a major role in helping organizations reduce the fallout from liability incidents and associated lawsuits, allowing them to enhance their primary coverage capabilities and ensure ongoing operational success. By reviewing common policy features and key benefits provided by such coverage, organizations can tailor their commercial umbrella insurance to their needs and foster a comprehensive risk management strategy. For more information on Commercial Umbrellas, contact us at feedback@dimondbros.com for more information or connect with your local Dimond Bros. team member. 

This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice.