Parametrix Impact Analysis, CrowdStrike’s Impact on the Fortune 500, estimates the total direct financial loss facing the US Fortune 500 companies (excluding Microsoft) from the CrowdStrike outage on 19 July is $5.4 billion and concludes:

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1. Traditional industries relying on physical computers experienced longer recovery times, which underlines the resilience and rapid recovery of cloud-based systems.

2. Cyber (re)insurers can manage systemic risk through strategic diversification across industry sectors, service providers, and company sizes.

3. The impact of the CrowdStrike outage was distinct due to its deployment both on-premises and via the cloud. Insurers should therefore not rely solely on the CrowdStrike event for modeling future cloud-based failures.

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Parametrix unparalleled insight into the financial impact of the CrowdStrike event is based on:

- more than 54 billion data points, which together define the historical performance of cloud services,

- extensive expertise in system failures and business interruption losses, and

- direct monitoring of the real-time service status of 6,000 leading technology businesses, including a significant portion of the Fortune 500. 

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Download the full analysis.