Cloud services impact everyday life. Never mind your Wi-Fi-enabled kettle. Think about your online document management system, or your payroll & billing, email and office suite, blog, your eCommerce site?
So, what happens if there's an outage, your data gets wiped, your provider goes bust or your cloud fails completely? This is nothing new. I blogged about this years ago when it happened before. We can't get enough cloud and can't do without it. When your cloud goes down, there's no point running to your lawyer or your insurance company. That's already too late.
When you're setting it, add backup and think about your RTO and RPO and not just the paltry service credits they'll wave at you. Add redudancy or live failover for your key systems. Think about using Backup or DR as a service - and not just from your main provider, consider using external resource from a third party.
As the scouts say: "Be prepared". Or more prosaicly: if you fail to plan, you plan to fail. You need to prepare in advance.
When your cloud goes down, there's no point running to your lawyer or your insurance company. That's already too late.