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Google Partners With Insurers to Create Risk Protection Program

Google Cloud, Allianz, and Munich Re teamed up to build a program that aims to reduce risk and potentially cut costs for customers.

Google has teamed up with two major cyber-insurance providers, Allianz Global Corporate and Specialty (AGCS) and Munich Re, to create the "Risk Protection Program" for Google Cloud users.

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The program introduces a new Google Cloud security tool called Risk Manager, which gives businesses the ability to measure and manage their risk via Google Cloud and receive reports on their security posture, officials explain. 

Organizations can work with their insurance broker to use Risk Manager to send reports to AGCS and Munich Re. In turn, the insurers can use these reports to evaluate a business's security and eligibility for Cloud Protection +, a cyber-insurance policy created for Google Cloud users. 

This collaboration among Google Cloud, AGCS, and Munich Re stemmed from tackling the issue of risk management in the cloud. AGCS and Munich Re both changed their underwriting process and adjusted insurance policies based on the technology that insured organizations deploy to create Cloud Protection +. 

The goal of the program is to help businesses not only reduce risk but potentially create a more comprehensive risk management program. Risk Manager is now available in private preview for customers in the United States.

Read Google's full blog post for more details.  

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