More and more small and mid-sized businesses are using cloud computing, with the percentage expected to more than double from 37 percent today to 80 percent within the next six years.
Cloud computing helps companies save money by enabling them to store their electronic assets in data centers or warehouses and essentially "rent" access to them, paying only for the IT assets they use. But with those rewards come new risks, including service interruption and data loss.
But Erie Insurance business customers can rest easier thanks to new cloud computing coverage that’s been added to its Equipment Breakdown coverage.
More and more small and mid-sized businesses are using cloud computing, with the percentage expected to more than double from 37 percent today to 80 percent within the next six years.*
Cloud computing helps companies save money by enabling them to store their electronic assets in data centers or warehouses and essentially "rent" access to them, paying only for the IT assets they use.
But with those rewards come new risks, including service interruption and data loss. But Erie Insurance business customers can rest easier thanks to new cloud computing coverage that’s been added to its Equipment Breakdown coverage.
In fact, a survey by Hartford Steam Boiler and the Ponemon Institute found nearly half of business cloud users (48 percent) have experienced a service interruption, and 56 percent said at least one of those interruptions prevented their company from functioning.
Some of the biggest cloud service providers are household names like Amazon, Microsoft, IBM and Google, but there are thousands of other smaller cloud data centers and providers and many lack adequate protections against outages. In addition, data centers can be prime targets for hackers.
The new coverage protects ERIE customers from such risks by providing:
Data research, repair and restoration services;
Coverage for direct property loss for the cost to repair or replace covered equipment that is damaged;
Coverage for lost business income and extra expenses when a customer’s cloud service provider experiences an outage or equipment breakdown for covered reasons; and
Because outages and data breaches can damage a company’s reputation, public relations coverage that pays up to $5,000 for a professional services firm to assist in communicating with clients, the public and the media.
Coverage and associated services provided under an arrangement with The Hartford Steam Boiler Inspection and Insurance Company.
Coverage included as part of Ultrapack Plus and Flex policies. Erie Insurance Exchange, Erie Insurance Co., Erie Insurance Property & Casualty Co., Flagship City Insurance Co. and Erie Family Life Insurance Co. (Erie, PA) or Erie Insurance Co. of New York (Rochester, NY). Go to erieinsurance.com for company licensure and product details.