?? Tech Outage Spurs Insurance Clients to Ready Cyber Claims ??

A recent global computing outage, triggered by a flawed software update from CrowdStrike Holdings Inc., disrupted numerous sectors, including airlines, banks, and government agencies. This has led to a significant number of cyber insurance claims.

?? Scope of the Outage:

• Dozens of clients from Marsh, the world's largest insurance brokerage, are preparing to file claims.
• Over 75 clients have notified their cyber insurance providers about potential claims.

?? Insurance and Coverage:

• The affected clients are mainly customers of CrowdStrike Holdings Inc.
• A flawed software update predominantly caused the chaos.
• Not all organizations have cyber insurance, highlighting gaps in coverage among different sectors, such as airlines.

?? Response from Marsh:

• Marsh has been receiving notices from businesses about potential claims since the early hours following the outage.
• Meredith Schnur, Marsh's cyber practice leader for the US and Canada, emphasized the expected coverage under cyber insurance for such events.

?? Implications for Cyber Insurance:

• The event underscores the critical nature of having comprehensive cyber insurance.
• It reveals vulnerabilities in sectors not adequately covered by cyber insurance.

For more details, you can read the full article here.

Tech outage spurs insurance clients to ready cyber claims | Digital Insurance (dig-in.com)

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