LONDON : U.S. Fortune 500 companies, excluding Microsoft, will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday.
FILE PHOTO: People walk next to blacked out digital billboards at Macy's Herald Square following a global IT outage, in New York City, U.S. July 19, 2024. REUTERS/David 'Dee' Delgado/File Photo
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. 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.
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