Google teams up with Allianz, Munich Re to insure its cloud users


FILE PHOTO The brand logo of Alphabet Incs Google is seen outside the companys office in Beijing China August 8 2018.  Picture taken with a fisheye lens. REUTERSThomas Peter

FILE PHOTO: The brand logo of Alphabet Inc's Google is seen outside the company's office in Beijing, China, August 8, 2018. Picture taken with a fisheye lens. REUTERS/Thomas Peter

FRANKFURT (Reuters) - Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies said on Tuesday.

Major insurers have been treading carefully on cyber risks for years, but the tie-up between Google, Allianz and Munich Re gives the insurers special access to data to see what controls are in place at client firms to help them price the risk.

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