The global IT failure was the result of a hamfisted software update which shows that cyber risk is more than just 'a guy in a hoodie’, says Emergence CEO Troy Filipcevic.
Event could be the most significant single insured loss in 20-year cyber insurance history, but does not match extreme scenarios modelled by insurers, says CyberCube.
There is a wide variation in how cyber insurers deal with non-malicious outages like CrowdStrike and as a result making loss estimates for the software failure is difficult.
