How secure is Apple's iCloud?

["Eckardt, Chip" <eckardpp () UWEC EDU>]

Hello,
Has anyone read the Apple agreement to use their new iCloud service?  Or know what security measures Apple will have in 
place to protect users' data?
I am concerned about any PII data our faculty and staff might have on their iPads that could be shipped up to Apple's 
cloud this fall.  Since this service will be free I suspect many iPad, iPod, and iPhone users will be trying this 
service.  I do not know if the data is encrypted before it is sent and/or if encrypted at rest.  Thanks,

Chip

Chip Eckardt
CIO
UW-Eau Claire
105 Garfield Ave.
Eau Claire, WI 54701