CrowdStrike global outage to cost US Fortune 500 companies $5.4bn

Banking and healthcare firms, major airlines expected to suffer most losses, according to insurer Parametrix

The global technology outage sparked by CrowdStrike’s faulty update will cost US Fortune 500 companies $5.4bn, insurers estimated, as the cybersecurity firm vowed to make changes to prevent it from happening again.

The projected financial losses exclude Microsoft, the tech giant whose systems suffered widespread failures in the crash.