Michael Urbanik

speaker

47 appearances 1 recordings 1 series first heard Mar 2025 last heard Mar 2025

Michael Urbanik’s voice in public audio — every appearance, attributed to the second.

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Bites and Bytes Podcast · Agroterrorism & Cyber Threats: How Farms Are Under Attack · 4 Mar 2025 podcast

And the way technology works is it just becomes more easy and more accessible every year. So that's why we see we've seen a monumental shift in number of cyber attacks. across all industries that the number only goes up every year because the barrier to entry to becoming a cyber criminal is very minimal.

Almost anyone can just go buy a laptop, a phone and start sending phishing emails, sending, you know, spoof voicemails, what have you. They get one critical piece of information. They can do something with it. Or then we talked about as basically crime as a service. They can solicit, you know, someone who knows what to do.

sell that little password that they had, and then they might get 25% of all of the money that comes later. And then we can talk, who are these people doing these crimes? But it's sad to talk about because it's a growth of an industry that we all would not like to see grow. But that's the reality. And business owners just have to be very mindful.

And there are steps and measures you can take to preventing that.

Yeah, luckily there are solutions, right? And I'll say first, for a lot of things, for anything destructive act, an attack, damage to fall into this terrorism category and what we call like definitional terrorism by the courts, it's pretty rare. this is pretty rare. I'm going to stand up for my insurance carriers for a moment.

I know a lot of people don't have a high view of them, but insurance carriers, they do want to pay claims. They don't want to get someone on a technicality and say like, oh no, this is technically this, we're not going to pay it. Carriers don't want to have a bad name in the industry, so they want to pay claims. So let's just talk about a couple things, or recap a couple things.

So one might be like a physical damage attack on your property. They break into your property, they damage your cages, your property. That's going to fall under your general liability business owner's property policy. And what you can do on that policy as we talk about agro-terrorism is you can opt in for anywhere from like $0 to $200 a year for terrorism coverage.

So that's a very simple thing, you know, was set up by this terrorism act. If this is a concern to you, call your insurance agent and say, hey, look, do I have this optional endorsement that gives me back coverage for acts of terrorism? And that's going to fall into the property category. And, you know, they can say, you know, no, you don't have it.

And then you can say, OK, well, what's it going to cost to add it? And it's going to be a pretty nominal fee because of, you know, just how this act works. They want to make this very easy to afford and very easy to say yes to getting. And again, these these type of definitional terrorism attacks are pretty rare.

So that's the first thing I would say is call your insurance agent, review your insurance policy, make sure it's adequate for your risks and, you know, ask about this terrorism coverage.

The second component is when we talk about this digital, these digital attacks, get a standalone cyber liability policy that's going to give you business interruption coverage, because that's a big thing that can come of all this that people don't think like, yes, they put malware on my computer. I have to throw away all my computers. I have to get new computers, reinstall them.

There's a dollar cost there. But all that time, you might have lost income as part of it.

a standalone cyber liability policy it's going to give you protection for your assets protection for your financial assets via cyber attack and then also protection for loss of income you know in preparation for this call i took a couple calls with some cyber insurance carriers and when these foreign actors attack because these attacks can come from russian black hat cyber attack gangs north koreans

There's other places that they come from that originated overseas. People might think, oh, are these acts of terror or are these acts of war because it's coming from, you know, a foreign source? Those claims are being paid right now. They are not because those attacks are happening and carriers are paying those claims and damages.

They're not trying to throw them out because of where they come from. Now, we could just always be one political step away from now that country being on a different list and now that attacks viewed differently. I can't say with certain how that'll be interpreted. We'll just have to let the carriers and the courts and Congress deal with that.

But these policies do cover and pay and they protect from foreign sources. And again, you can get on that an optional terrorism coverage. And I think I looked at a quote for one of my clients and it was zero dollars to add that. So they're getting that coverage. So those are tools that are available to pretty much every business. They're very accessible at this stage.

Don't miss the forest through the trees here. Talk to your agent. Spend maybe a few more dollars. I know everyone wants more dollars from you everywhere. That's not lost on me. I'm sympathetic to all small business owners. But these are very prudent ways to protect yourself.

Listeners are definitely going to want to know. I'll jump in on that real quick. And Andrew and I have talked about this. So right now, when it comes to, I'll say insurance products, and you can view this question through a couple of different lenses. But when it comes to insurance, these products have been available for a long time.

But the awareness component or understanding from the business owner that this is what they need has been really lacking. And, you know, I'll give you some anecdotal evidence. So the number one and two industries that are targeted by cyber attacks are financial and medical industries, just because if they sit down the computers, it all goes to heck real quick. But we knew that years and years ago.

But I'll say this year, cyber liability was probably my number two highest purchased insurance policy by business owners. It takes a long time for that message to just permeate the industries. And I'll tell you the anecdotal story is everyone now knows another practice owner or business owner that's had a cyber attack. And they're like, if that can happen to him, I'm not very different.

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