The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates.
The portion of the loss covered under cyber insurance policies is likely to be no more than 10% to 20%, or $540 million to $1.08 billion, due to many companies’ large risk retentions, and to low policy limi