DrT - I don't see insurance as necessarily being mandatory, but I can see public companies being required to have data protection plans in place, including indemnification if everything goes south in a spectacular way.
Agree. All I hope we will not see mandatory insurance coverage for our data, like the ones we have to have for our cars. If things get mandatory it becomes costly and there would not be anything to stop it.
Very true slfisher. It indeed was a good example for all of us and definitely will be a learning thing which might come handy whenever another natural disaster occurs.
Insurance for cloud losses will be a big industry as more folks use the cloud directly and indirectly. Whether state insurance commissioners will be getting involved in this aspect of the "insurance" industry is a question that will have to be answered. Once politics on the state level gets involved things get a bit trickier as interest groups spring up to move legislation and rules in their favor.
It will be interesting to see where cloud insurance moves.
My crystal ball says we'll see a company suffer a serious loss in 2013 as a result of cloud failure combined with failure to adequately prevent against risk.
Thanks for sharing this article, Mary. It is very informative. I would think we would expect more assurances around our privacy and security in the cloud, I am sure will hear "Insurance as a service" integrated to services themselves quite often. The risk most likely be distributed across cloud providers, service providers and consumers, so all the will be part of equation for it to work and no free meal for anybody.
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