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Cloud disruptions total up to $1 million, HSB survey finds

Zogby Analytics was commissioned in 2018 by HSB to conduct a survey of 403 senior business executives in the U.S.

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“When you consider that most companies use the cloud, they have a serious exposure to business interruption losses,” Timothy Zeilman, vice president for HSB, said in a statement. “ “When you consider that most companies use the cloud, they have a serious exposure to business interruption losses,” Timothy Zeilman, vice president for HSB, said in a statement. (Photo: iStock)

Three-quarters of U.S. businesses use the cloud for data storage, and almost half have had a service interruption with losses, in some cases totaling up to $1 million or more, a survey for The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, has found.

The survey showed that 41% of businesses have experienced an interruption of cloud services at some point; five percent were not sure.

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Denny Jacob

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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