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Cloud computing insurance is an emerging service – many IT professionals are still unsure what exactly it is, and whether their company or clients need it or not. While cloud computing insurance may just be getting started, cloud computing utilization is growing at an astonishing rate. Worldwide spending on cloud computing is expected to reach $42 billion dollars by 2013. At its essence, cloud computing insurance is a cyber liability insurance policy designed especially for business that employ or provide web-based software services.
There are many reasons why a business would need a technology insurance company. Thanks to technology, the environment in which we do business is changing quickly, and traditional commercial general liability insurance doesn’t protect your company against new threats. Hackers, viruses, and data breaches are just some of the reasons companies need technology insurance.
