Public cloud industry is projected to continue growing revenue at a rate of 36% each year through 2026. Downtime at a major cloud provider could hit $19 billion in ground-up losses, researchers report. 12.4 million businesses in the US, which it states is the most established cyber insurance market, would be affected if cloud systems were to fail for a span of several hours to eleven days. Most policies have low limits and long waiting periods, with about eight to 24 hours of downtime before coverage starts to kick in.”]
Source: https://www.darkreading.com/cloud/financial-impact-of-cloud-failure-could-hit-2-8b-in-insured-loss