CrowdStrike Faces Uninsured Losses After Historic Outage

The cybersecurity firm's software update failure caused global disruptions, leading to significant but largely uncovered financial impacts.

CrowdStrike's IT outage cost Fortune 500 companies around $5.4 billion, with insured losses expected to be much lower.
The incident was caused by a faulty software update, not a cyberattack, limiting insurance coverage.
Delta Air Lines reported $500 million in losses and plans to seek compensation from CrowdStrike and Microsoft.
Despite the outage, CrowdStrike's stock dropped over 30%, but its strong market position suggests potential resilience.
Legal actions and customer confidence issues may pose challenges for CrowdStrike in the near term.