Month: May 2022

3 tips for risk managers to protect against cloud outages

Three ways Risk Managers can protect their companies from cloud outages

On May 6, 2022, services housed on Google Cloud Platform’s us-central-1 faltered. Customers relying on impacted services experienced high latency and errors in multiple services. The outage didn’t gain national headlines like AWS’s December crashes or Fastly’s June CDN outage. But for anyone assessing risk, the takeaway is clear: you never know timing or the …

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Despite investor jitters, new tech players will propel the insurance market forward

Insurance is a multi trillion dollar industry and has shown steady growth and stability other industries only dream of. Success came despite its perception as being sluggish and slow to adopt new technology. But there is change in the air. New players are harnessing technology to suit a new generation of consumers, promising to shake …

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Parametrix and IMA Partner to Expand Distribution of Cloud Downtime Insurance

Parametrix Insurance (Parametrix), the provider of parametric cloud downtime insurance, and IMA Financial Group (IMA), a North American insurance brokerage firm specializing in risk management, insurance, wholesale brokerage and wealth management, today announced they have entered into a partnership to help more companies protect themselves and their customers against losses from cloud downtime.  As a …

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Protocol publishes feature on Parametrix

Protocol wrote a piece about the volatility of cloud services and how insurance can cover financial losses from outages that knock businesses offline. “The 3-year-old startup offers cloud downtime insurance to compensate policyholders for their financial losses — or their customers’ losses — when their cloud provider has a service disruption. On average, one of …

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