Guy Carpenter to offer cloud coverage
Global risk and reinsurance intermediary Guy Carpenter has teamed up with CloudInsure to develop insurance solutions for cloud computing.CloudInsure is a cloud insurance platform designed specifically to address emerging liabilities associate with the cloud environment.Guy Carpenter, a unit of New York-based Marsh & McLennan Cos. Inc., said the deal with CloudInsure, a subsidiary of Cyber Risk Partners L.L.C., will enable it assist primary insurers in offering privacy and security liability coverage to enterprise customers that are facing new types of risks due to cloud computing.“We believe that CloudInsure has developed a sustainable solution and methodology, based on solid analytics and data, which will foster this emerging marketplace,” said Tony Jones, a vice President at Guy Carpenter. “Guy Carpenter’s role as a trusted reinsurance intermediary uniquely positions us to assist in further advancing this marketplace by creating the risk transfer mechanisms and innovations necessary to support primary insurer adoption on a mass scale.”“The insurance industry needs the cloud industry, and cloud industry needs the insurance industry — they just don’t know it yet.” said CloudInsure CEO, Mike Paisan. “We see that for Cloud Companies, and Tech in general, innovation and adoption is happening at a faster rate than a single insurance company can manage on their own, we anticipate great support and partnerships from the primary insurance, with opportunities in these markets on the scale of cloud.”