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GigaOm: Last week’s lightning-caused outages for Amazon and Microsoft customers have re-confirmed the risk involved in using public cloud computing services. Although Amazon Web Services customers affected by the outage received credits for 10 days of service use, that might not cover their costs, specifically the opportunity cost of lost business during that outage.
The IEEE and private companies have been working on developing a cloud insurance model that would allow companies to mitigate the risk of cloud computing. In the future, cloud insurance could make it easier for companies to recover from outages, but the industry is only in the very earliest stages of development.
