At the Norfolk Soil and Crop Improvement Association’s annual meeting on January 30th, Andrew Burns, Agriculture Manager and Account Executive (Tillsonburg), delivered an insightful talk on an increasingly important topic for farmers: cybersecurity. While farm insurance typically brings to mind coverage for physical property, crops, and livestock, Burns stressed that the digital landscape is an area that should not be overlooked.

The Growing Threat of Cyber Attacks on Farms

Cybersecurity might not be the first thing that comes to mind when thinking about the risks that farmers face, but Burns explained that it’s becoming more critical every day. As farms become increasingly digitized—using advanced technology for operations, communication, and management—they also become more vulnerable to cyber threats. This includes both foreign and domestic cyber-attacks, which can target everything from sensitive data to day-to-day operations.

In his talk, Burns highlighted a sobering statistic: 60% of businesses that fall victim to ransomware attacks end up shutting down within six months. For farms, the consequences of a cyberattack can be devastating—not only because of the immediate disruption it causes but also due to the long-term financial and reputational damage that can result.

The Hidden Dangers of Cyberattacks

The consequences of a cyberattack can extend far beyond just losing access to computers or critical systems. Hackers can infiltrate networks, steal personal and financial data, and access contact lists. Burns pointed out that viruses can spread quickly from one infected system to another, potentially impacting clients, suppliers, and other partners in the farming community.

This presents a significant legal risk. Farmers could face lawsuits if the cyberattack causes harm to other businesses, especially if the virus spreads to their customers or vendors. This makes cybersecurity an issue not just for individual farms but for the wider agricultural ecosystem as well.

The Solution: Affordable Cyber Insurance

To mitigate these risks, Burns recommends that farmers invest in cyber insurance. While many farm owners might believe that cyber insurance is an unnecessary expense, Burns emphasized that it is actually a relatively affordable and effective way to safeguard against the far-reaching consequences of a cyberattack. With the right coverage in place, farmers can sleep easy knowing their digital operations are protected, and they won’t face catastrophic financial losses due to a cyber incident.

As cyber threats continue to evolve, it’s important for farmers to stay ahead of the curve and ensure that their digital infrastructure is as secure as their physical operations. Cyber insurance is an essential tool in achieving that peace of mind, helping farmers protect both their business and reputation in an increasingly digital world.