Insurers have begun calculating the financial damage caused by last week’s devastating CrowdStrike software glitch that crashed computers, canceled flights and disrupted hospitals all around the globe — and the picture isn’t pretty.
$5.4 Bn so far, not including lost worker productivity or damage to brand reputations, so that’s a very conservative estimate. And Cybersecurity insurance will supposedly only cover up to 20% of that (but good luck getting even that much). What a clusterf***
No it’s all of them because all the companies combined out side of the 500 wouldn’t even have enough net worth large enough to move the needle. So technically they may not be included but would be covered by whatever amount they rounded up to make the even 5.4b
All the CrowdStrike companies on earth minus the 500 biggest (American) ones? I have a hard time believing it’s as insignificant as you assume. I guess we’ll see…
It’s a variation on the old saw of “how much is the difference between a million and a billion? About a billion”.
Once numbers become so big, it’s hard to grasp the relative sizes.
That said, I’m also interested in a more comprehensive breakdown. Seeing who are impacted, how much and where.
$5.4 Bn so far, not including lost worker productivity or damage to brand reputations, so that’s a very conservative estimate. And Cybersecurity insurance will supposedly only cover up to 20% of that (but good luck getting even that much). What a clusterf***
And that $5,400,000,000 loss estimate is only Fortune 500 companies!
No it’s all of them because all the companies combined out side of the 500 wouldn’t even have enough net worth large enough to move the needle. So technically they may not be included but would be covered by whatever amount they rounded up to make the even 5.4b
All the CrowdStrike companies on earth minus the 500 biggest (American) ones? I have a hard time believing it’s as insignificant as you assume. I guess we’ll see…
It’s a variation on the old saw of “how much is the difference between a million and a billion? About a billion”. Once numbers become so big, it’s hard to grasp the relative sizes. That said, I’m also interested in a more comprehensive breakdown. Seeing who are impacted, how much and where.
100% correct. I wasn’t implying that I knew the figures just that the size of the Fortune 500 is used as an economic index for this reason.