The abstract world of cloud computing just encountered a new first: insurance policies for your cloud account.
Cloudsurance is calling itself the world’s first cloud insurance program for cloud consumers. So the term Cloudsurance is pretty self explanatory, what exactly do you get when buy an insurance plan for your cloud from Cloudsurance?
When businesses begin migrating their data into the cloud, there’s two common issues in retrieving that data. The first issue is lack of internet connectivity. The next most common issue is downtime associated with a cloud provider.
Simply put, Cloudsurance covers companies that experience downtime that is a direct result of a malfunction of the cloud service provider itself. If a business is unable to operate due to their cloud data being inaccessible, policy holders at Cloudsurance can make a claim against their coverage and get financially compensated for the downtime that they incur.
Cloudsurance is designed to fill the gaps left open service level agreements. If you’ve been around the world of IT, you probably know that all SLA’s aren’t created equal. What if you experience downtime due to a cyber attack? With Cloudsurance, you can get a policy that covers cyber attacks which provides organizations with financial compensation if one were to ever happen.
“There are hundreds of millions of individuals and businesses who entrust their data to cloud providers and have virtually no protection in the form of insurance against downtime, data loss or cyber attack. Our ambition is to provide a basic level of protection to cloud consumers where cloud providers have systematically failed to do so,” says Alexander Saca, CEO of Cloudsurance.
Cloudsurance is currently in beta testing and Cloudwedge speculates that the full platform may roll out by the end of the year.
Companies interested in trying out the Cloudsurance Beta program are urged to visit Cloudsurance’s website to gain additional information.