Cloud Insurance Gains Traction in the Fight to Protect Critical Data

Grazed from Midsize Insider. Author: Joe Hewitson.

Cloud insurance recently received a boost in momentum when Liberty International Underwriters and CloundInsure announced a partnership to help mitigate the risks associated with the cloud. It is no secret that cloud computing has been a revelation to modern midsize IT with promises of increased scalability, performance and cost savings. Along with great promise comes great risk, however, and in the case of the cloud, the chief risks include decreased security and loss of control over data. Enter cloud insurance, a service that aims to protect businesses that entrust critical assets to the still maturing cloud.

Help with Risk Management

Cloud insurance is still very much in its infancy, but with new partnerships beginning to spring up, the market is clearly gaining steam. This is good news indeed for midsize IT. One of the greatest benefits midsize IT professionals stand to gain from the emergence of this insurance is third party risk assessment. The joint venture of Liberty International Underwriters and CloudInsure, as described by Insurance Journal, allows policyholders to utilize risk consultants with the ability to analyze existing cloud environments and provide midsize IT professionals with targeted pre-loss support services…

Focusing on the Future

Enjoying this expert outside help, midsize IT firms can devote more of their time to pushing their cloud computing environment forward and staying on the cutting edge of a dynamic technology. This helps prevent cloud stagnation in which too much of an IT firm’s resource pool is dedicated to maintenance, recovery and other tasks focused on yesterday’s projects…

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