Corporate Insurance Blog

Matt Dunning wrote an article for Business Insurance discussing potential risks and risk management techniques that companies consider when making the move to the cloud.

The lede is:

Companies using cloud computing to supplement or replace in-house data storage systems without a cohesive risk management strategy can expose themselves to substantial financial losses and reputational harm, cyber risk experts say.

Matt was kind enough to quote me in the piece.  I discuss insurance coverage for the cloud and cloud-based risks.  You may have to register with Business Insurance to see that part of the article.

The article has interesting points for risk managers, as well as compliance and IT personnel that are considering moving data, software, operations, or more to the cloud.  Please click on over and read the entire piece.

Disclaimer:

This blog is for informational purposes only. This may be considered attorney advertising in some states. The opinions on this blog do not necessarily reflect those of the author’s law firm and/or the author’s past and/or present clients. By reading it, no attorney-client relationship is formed. If you want legal advice, please retain an attorney licensed in your jurisdiction. The opinions expressed here belong only the individual contributor(s). © All rights reserved. 2013.  As a presenter at the conference for Business Insurance, I was not be charged a fee to attend the meeting.

This week, I was a speaker at the Business Insurance Risk Management Summit. My session addressed cloud computing issues.  Here’s the write up from the agenda:

Cloud Computing — Cloud computing offers opportunities for efficiency and cost savings but can introduce a host of risks in areas such as information security, reputation, business interruption, jurisdictional issues and regulation and compliance. This session will focus on the nature of the exposures associated with cloud computing services and how to address the risks looking at such mitigation areas as risk management, contractual issues and insurance coverage options.

Matt Dunning wrote an article that details the tips that our panel, and the prior presenter, Emily Cummins, gave to risk managers regarding cloud computing.  We summarized the risks and opportunities related to the cloud, and gave takeaways that could be put to use after the conference ended.  Matt quoted me in the piece:

Panelists said that while reported incidents of cloud-based data breaches have been scarce among manufacturers, software companies, communications firms and financial institutions, risk managers should not assume the technology can be implemented easily or without thorough risk analyses and data security control tests.

“There may have only been a few breaches so far, but risk managers have jobs and attorneys have jobs because the world continues to change,” said Scott Godes, a Washington-based attorney [formerly] at Dickstein Shapiro L.L.P.

The article has helpful pointers for risk managers considering moving their data, applications, or infrastructure to the cloud.  Be sure to click on over and read the entire piece.

Disclaimer:

This blog is for informational purposes only. This may be considered attorney advertising in some states. The opinions on this blog do not necessarily reflect those of the author’s law firm and/or the author’s past and/or present clients. By reading it, no attorney-client relationship is formed. If you want legal advice, please retain an attorney licensed in your jurisdiction. The opinions expressed here belong only the individual contributor(s). © All rights reserved. 2013.  As a presenter, I was not be charged a fee to attend the meeting.