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“It is optimal for industry peers to establish custom products that move the needle in today’s corporate environment,” said Jody Yee, managing director for alternative risk transfer at AGCS, in a statement. “We are meeting latest coverage needs with viable solutions to meet changing business dynamics.” (Photo: Jason Doiy) “It is optimal for industry peers to establish custom products that move the needle in today’s corporate environment,” said Jody Yee, managing director for alternative risk transfer at AGCS, in a statement. “We are meeting latest coverage needs with viable solutions to meet changing business dynamics.” (Photo: Jason Doiy)

Allianz Global Corporate & Specialty (AGCS) and Munich Re have partnered to provide state-of-the-art cyber insurance coverage exclusively to U.S.-based customers of Google Cloud. The solution called “Cloud Protection +” is designed for Google Cloud users enrolled in Google’s Risk Protection Program, which includes the new coverage scheme and a tool that helps customers determine security risks on the cloud.

“As one of the top three global business risks in the Allianz Risk Barometer 2021, cyber risk is complex and ever-changing, and cloud exposures are among today’s most relevant threats,” Thomas Kang, North American head of cyber at AGCS, said in a press release. “To address a developing market need with Munich Re along with a major cloud platform provider such as Google Cloud is ideal. We not only obtain valuable insights on a company’s security posture but remain at the forefront of understanding and managing emerging risks associated with cloud architecture and latest client needs.”

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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