Marsh Launches Innovative Insurance Solution for Cloud Computing Risks
04 6월 2012 - 10:00PM
Business Wire
To assist companies in managing the risks associated with cloud
computing, Marsh today announced the launch of what is believed to
be the industry’s first insurance solution designed to protect
companies against first-party losses stemming from a cloud service
provider’s failure.
Improvements in technology and the need for greater efficiency
have led to heightened interest in cloud computing—the delivery of
information technology services, data storage, and/or software
applications using the Internet and central remote servers.
However, companies that adopt a cloud strategy are at risk if
their cloud service provider fails to render contracted services
due to a cyber attack, insolvency or other event. Companies
purchasing cloud services have little recourse for resulting
network interruptions as most cloud provider service agreements
offer little in the way of indemnification. Insurers of cyber risk
typically only provide minimal sublimits or simply exclude such
contingent business interruption risks from their policies.
Developed in conjunction with leading cyber risk insurers,
Marsh’s CloudProtect endorsement is a customized risk transfer
solution that covers lost revenue and extra expense resulting from
the failure of the insured’s cloud service provider. CloudProtect
also provides reimbursement for costs incurred by an insured in the
procurement of services from a new cloud provider, including the
transition of its software, information, and data.
“Cloud computing enables much more efficient computing by
centralizing storage, memory, processing, and bandwidth, but it
also can lead to network interruptions and lost income should the
cloud go down,” said Robert Parisi, Network Security and Privacy
Practice Leader for Marsh. “Marsh’s CloudProtect solution helps to
mitigate this risk by offering additional protections that are not
adequately addressed by traditional insurance policies.”
About Marsh
Marsh, a global leader in insurance broking and risk management,
teams with its clients to define, design, and deliver innovative
industry-specific solutions that help them protect their future and
thrive. It has approximately 26,000 colleagues who collaborate to
provide advice and transactional capabilities to clients in over
100 countries. Marsh is a wholly owned subsidiary of Marsh &
McLennan Companies (NYSE: MMC), a global team of professional
services companies offering clients advice and solutions in the
areas of risk, strategy and human capital. With 53,000 employees
worldwide and annual revenue exceeding $11 billion, Marsh &
McLennan Companies is also the parent company of Guy Carpenter, a
global leader in providing risk and reinsurance intermediary
services; Mercer, a global leader in human resource consulting
and related services; and Oliver Wyman, a global leader in
management consulting. Follow Marsh on Twitter @Marsh_Inc.
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