CrowdStrike outage costs Fortune 500 companies $5.4 billion
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The global technology outage caused by CrowdStrike’s faulty update is estimated to cost US Fortune 500 companies $5.4 billion, according to insurers. CrowdStrike has committed to implementing changes to prevent a recurrence. The projected losses do not include Microsoft, which also experienced widespread system failures due to the crash. Insurer Parametrix indicates that companies in banking, healthcare, and major airlines will be most affected. The total insured losses for non-Microsoft Fortune 500 companies are estimated between $540 million and $1.08 billion.