Cloud Computing Provider Insurance
Why do cloud computing providers need business insurance?
If a client can't access important data when they need it, the result could be a lawsuit. Cloud computing business insurance helps you recover quickly from costly legal battles, workplace injuries, fires, and theft.
Get the right insurance
6 insurance policies every cloud computing provider should consider
Cloud insurance helps your company comply with state laws and the terms of leases and contracts. These policies can aid with disaster recovery, legal issues, theft, and data breaches.
General liability insurance
This policy protects cloud service providers and data centers from the most common lawsuits. It's often required for commercial leases and contracts.
- Accidental client injuries at your office
- Accidental damage to client property
- Defamation and copyright lawsuits
Errors and omissions insurance
E&O, sometimes called professional liability insurance, helps pay legal costs related to cloud outages and technical errors. Intellectual property (IP) and media liability coverage can often be added.
- Delays in real-time computing
- Loss of data
- Errors that cause financial losses
Business owner’s policy
A BOP bundles general liability coverage and commercial property insurance at a discount. It covers common third-party risks and property damage at small businesses.
- Accidental client injuries at your office
- Accidental damage to client property
- Stolen or damaged business property
Cyber liability insurance
Security breaches are a tremendous risk in a cloud environment. This policy helps cloud computing firms recover from data breaches. It also covers legal costs if a client sues over a breach.
- Attorney's fees
- Client notification costs
- Data recovery efforts
Fidelity bonds
If a cloud provider’s employee steals from a client, a fidelity bond provides compensation to the client. It’s also called an employee dishonesty bond.
- Unlawful data access by an employee
- Illegal money transfer by an employee
- Other employee theft or fraud
Workers’ comp insurance
State laws usually require that cloud service companies with employees carry this insurance coverage. It helps cover medical costs when an employee is injured on the job.
- Medical bills from work-related injuries
- Partial wages while employees recover
- Lawsuits from work injuries
Insurance costs for tech professionals
Median costs come directly from policies purchased by TechInsurance customers.
General liability: $28 per month
Errors and omissions: $61 per month
View more sample costs.
Start a free application to see how much insurance will cost for your business.
Why cloud computing providers choose TechInsurance
Protect against common risks
A lawsuit or data breach can devastate your cloud computing company. Prevent financial losses with policies tailored for your needs.
