Fortune 500 firms to see US$5.4 billion in CrowdStrike losses, says insurer Parametrix
Add BT as a preferred source
US FORTUNE 500 companies, excluding Microsoft, will face US$5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday (Jul 24).
CrowdStrike’s faulty update to its security software crashed computers powered by Microsoft’s Windows operating system, disrupting Internet services across the globe and affecting a broad swathe of industries including airlines, banking and healthcare.
Insured losses from the outage will likely total US$540 million to US$1.08 billion for the Fortune 500 companies, Parametrix said in a statement.
Major cyber insurer Beazley said this week it had no plans to change its guidance on its combined ratio – a key measure of underwriting profitability – after the mass IT outage.
The global insurance and reinsurance industry is likely to avoid any major financial impact from the outage, ratings agency Fitch said on Monday. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Room for more offices, homes and green spaces to make Orchard Road more vibrant
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
MAS revises takeover and merger code to enhance competition and disclosures
