Industry exposures equal online data risk.
Over the years the insurance industry has established a precedent of using standard reinsurance and licensed conventional products created by independent risk management companies. We intend to help insurance companies supplement their customer’s data risk mitigation needs with a completely new proactive technology and reinsurance solution.
Major risk markets identified as the greatest in need:
• Privacy Mandates (inancial, legal, government, medical, e-commerce)
• Insurance-Reinsurance (risk brokers, privacy directors)
• Digital Rights (copyright property rights)
• Data Security Services (monitoring-detection technology)
• Data Warehousing (data backup and storage facilities)
Business now depend upon the Internet for every aspect of their operations, including executive information, marketing, sales, IT communications and public relations. As the technology continues to expand, traditional legal principles will be given new applications to determine the rights and obligations of the parties using web technology. We believe that a majority of the Internet related claims against businesses will arise in defamation, intellectual property and the right to privacy.
The speed of web communications and the wide dissemination of materials made possible by the Internet magnify traditional defamation exposures. Similarly, the ability of a computer user to make a perfect copy of a document, to make changes to it and then disseminate it widely, complicates enforcement of intellectual property rights. It has also been observed that the need to protect the privacy of clients and customers from hackers and cyber-thieves enhances the need for adequate security.
The financial industry is the most aware and desire to address high-tech risks. The pressures on the insurance industry following the U.S. terrorist attacks bode extremely well for supplying ART solutions to this lucrative market segment. The above will be leveraged for expansion into other global markets. As feasibilities are endorsed, CloudCover will continue to utilize methods to support active data loss-control standards.
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