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Financial Services Provider Zurich Offers Insurance Plans for Companies that Use the Cloud

July 14, 2014
by Staff Writer

The North American arm of Swiss financial services provider Zurich Insurance Group Ltd. is offering insurance plans for companies that use the cloud. Founded in 1872, the company is the world's 75th largest public company (as of 2013) and has headquarters in Zürich, Switzerland. It caters to 60,000 customers in 170 countries.

"Zurich" is one of a number of companies to launch insurance providers that have introduced services that focus on the cloud. Zurich's new services target medium-sized companies that utilize the cloud and need protection from interruptions in cloud services and protection against the impact on their businesses as a result of service failures.

Zurich’s plans protect against disruption caused by fires, the wind, vandalism, sprinkler leakage or other potential physical threats. Hurricane Sandy in 2012 is one example of the type of threat the company’s plans protect against - the hurricane caused data centers to close causing significant disruption to cloud services.

“If a company is using the cloud for more than simply archiving data, even a brief downtime can jeopardize its customer relationships, income stream and reputation,” explained Zurich North America's Technology Practice Leader in a press release circulated in late June. “A growing number of companies serve their customers through cloud-based platforms. It’s important to not only have insurance protection against cyber-attacks like hacking and data breaches, but also be safeguarded against income loss from a business interruption caused by property damage at the cloud facility. A business using cloud computing is more fully protected when it addresses both possibilities,” he added.

Do you know of any other companies offering protection against cloud disruption? Let us know the details. Add your comments below.

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