Microsoft to convene cybersecurity summit following CrowdStrike-induced disruption Microsoft will convene a summit for the improvement of cybersecurity systems in September, it said on Friday, after last month’s CrowdStrike faulty update propelled a global IT outage. The summit is the first of many giant steps the company shall take to forestall issues that affected nearly…
In July, a software update from the cybersecurity firm CrowdStrike caused Microsoft Windows operating systems to crash. The US Government Accountability Office called this event “potentially the largest IT outage in history.” The broad-based impact generated by the incident heightens the need to develop an effective risk management process to combat systemic cyber risks. The CrowdStrike incident…
The global insurance and reinsurance industry is likely to avoid any major financial impact from the outage sparked by CrowdStrike’s glitchy security software update that disrupted internet services worldwide last week, Fitch Ratings said. Preliminary estimates suggest that insured losses could be in the range of mid-to-high single-digit billion dollars and most claims would be…
The Azure outage, which originated in Microsoft’s Central US region on Thursday evening, had a cascading effect on multiple airlines. A major outage of Microsoft’s Azure cloud computing platform this week wreaked havoc on airlines globally, causing flight groundings and operational disruptions. The incident highlighted the vulnerability of cloud-dependent systems, prompting cybersecurity firm CrowdStrike to…
