The Role of Indemnification in Cloud Data Storage

cloud data storage

Storing data in the cloud

Content and regulatory compliance woes can hit businesses deep in the pocket, and data security and compliance is a growing concern across all industries. One way companies can protect themselves is by negotiating strong indemnification agreements as part of any contract involving outsourced storage and handling of their data, documents, and records by cloud vendors.

Why Indemnification for Information Management?

The cost of a data breach, accidental exposure, spoliation, or inappropriate record loss can be as much as the cost for a lawsuit in some instances. Recent data exposures have cost companies millions of dollars in legal fees and fines, and that doesn’t even include financial impact to brand value or the cost of communication and customer retention following a data breach. [Read more…]