Google Cloud to offer Cyber Insurance for their Cloud customers

Today, Google Cloud and the top two cyber insurance providers Allianz Global Corporate & Specialty (AGCS) and Munich Re are collaborating to offer Cyber Insurance for Google Cloud customers. 

The Risk Protection Program is will allow customers to reduce cloud security risk and cost. It will allow Google cloud customers to manage cloud as a platform instead of managing as a risk, notes the announcement.

CEO of Google Cloud, Thomas Kurian, said, "The benefits of adopting cloud technologies are too compelling for today's enterprises and we are committed to removing the barriers that prevent this business acceleration. That's why we are proud to be delivering a first-of-its-kind program with Allianz and Munich Re to help our customers reduce security risks and gain simplified access to specialized cyber insurance coverage to help customers accelerate their business with confidence in the cloud."

Treasurer of Alphabet and Google, Juan Rajlin, said, "Bringing the Risk Protection Program to market is possible due to our strong partnership with leading cyber insurers, Allianz and Munich Re, who collaborated with us to develop this groundbreaking program that we hope will improve cyber security and cyber insurance for our customers. We believe the program provides our Google Cloud customers with both access to superior cyber protection, as well as a more efficient insurance procurement process."

The Risk Protection program will offer a 'Risk Manager' tool to measure and manage risks along with a security posture report on Google Cloud. Another tool offered is 'Cloud Protection+'. AGCS and Munich R have developed this tool. Cloud Protection+ will assess security posture based on the report from the Risk Manager tool.

Risk Manager tool is available on request to Google Cloud customers, notes the announcement.