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CloudInsure Partners with Guy Carpenter to Develop Insurance Solutions in the Cloud

NEW YORK, Oct. 3, 2012 /PRNewswire/ -- CloudInsure, the world's first cloud insurance platform designed to specifically address emerging liabilities within the Cloud environment, announced today an agreement with Guy Carpenter & Company, LLC, the leading global reinsurance intermediary. Through this agreement, CloudInsure will be positioned to establish relationships with primary insurers to offer privacy & security liability coverage to meet the growing needs of the Cloud Computing space for enterprise customers, bringing insurance solutions that move at the pace of Cloud technologies.

"We believe that CloudInsure has developed a sustainable solution and methodology, based on solid analytics and data, which will foster this emerging marketplace," said Tony Jones, Vice President at Guy Carpenter. "Guy Carpenter's role as a trusted reinsurance intermediary uniquely positions us to assist in further advancing this marketplace by creating the risk transfer mechanisms and innovations necessary to support primary insurer adoption on a mass scale."

CloudInsure CEO, Mike Paisan commented on the collaboration between Guy Carpenter and CloudInsure, stating " The insurance industry needs the cloud industry, and cloud industry needs the insurance industry – they just don't know it yet." Mr.Paisan stated in conclusion, "We see that for Cloud Companies, and Tech in general, innovation and adoption is happening at a faster rate than a single insurance company can manage on their own, we anticipate great support and partnerships from the primary insurance, with opportunities in these markets on the scale of cloud.

About Guy Carpenter

Guy Carpenter & Company, LLC is a global leader in providing risk and reinsurance intermediary services. With over 50 offices worldwide, Guy Carpenter creates and executes reinsurance solutions and delivers capital market solutions* for clients across the globe. The firm's full breadth of services includes line-of-business expertise in agriculture; aviation; casualty clash; construction and engineering; excess and umbrella; life, accident and health; marine and energy; medical professional liability; political risk and trade credit; professional liability; property; retrocessional reinsurance; surety; terrorism and workers compensation. GC Fac® is Guy Carpenter's dedicated global facultative reinsurance unit that provides placement strategies, timely market access and centralized management of facultative reinsurance solutions. In addition, GC Analytics®** utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm's clients more successful. For more information, visit www.guycarp.com.

About Cyber Risk Partners and CloudInsure

CloudInsure is a wholly owned subsidiary of Cyber Risk Partners, LLC, offering a Cloud Insurance platform designed to specifically address emerging liabilities within the Cloud environment. In partnership with global insurance and reinsurance carriers, we've engineered privacy & security liability coverage to meet the needs of the Cloud Computing space for enterprise customers. Through our innovative underwriting models and proprietary analytics, we bring insurance solutions that move at the pace of Cloud technology. For more information, visit us at www.cloudinsure.com.

*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.

**GC Analytics is a registered mark with the U.S. Patent and Trademark Office.

SOURCE CloudInsure