Explosion Of Cloud Computing Usage Warrants Insurance Analysis

Cyber Insurance PicToday’s small businesses are in a fight for their survival.  With an economy that is seemingly stalled, most companies have been forced to find ways to cut costs and increase efficiency within their business.  As one of the largest fixed expenses in a business, technology costs are one of the first line items that are examined.  For most, cutting information technology resources is not a possibility.  In fact, if companies want to grow, information technology resources must be increased.

In years past, this conundrum kept small business owners up at night.  Enter The Cloud.  The Cloud Computing movement has been an answer to many prayers in the small business world.  With implementation of a proper cloud strategy, small businesses are able to have the resources of many of their larger counterparts, without the Capital Investment.

The Cloud allows users to pay small, monthly, usage fees for the ability to access Top Tier Information Technology Resources.  Now, the small business owner is able to focus on the core competency of the business and let their new “IT Department” worry about technology.

While this move to The Cloud is great, it does create a whole new set liabilities that can cripple small businesses if not accounted for.  The following article speaks of the rise of Cyber Insurance