Malaysia’s Digital Minister said this week that he had asked global technology companies Microsoft and CrowdStrike to consider compensating companies that suffered losses during last week’s global technology outage. According to Reuters.
CrowdStrike’s security software update bug caused a crash on Microsoft’s Windows PC on Friday, disrupting Internet services around the world and affecting many industries.
Malaysia’s Digital Minister Gobind Singh Deo was quoted by Reuters as telling reporters that five government agencies and nine companies operating in the aviation, banking and healthcare sectors were among the affected in Malaysia.
Gobind said he met with representatives from Microsoft and CrowdStrike to seek a full report on the incident and asked the company to take action to prevent another outage.
On Tuesday, Tony Fernandes, chief executive of Malaysia’s Capital A, the operator of low-cost carrier AirAsia, said that airlines affected by the IT outage deserved compensation.
“The principle is that if we do something wrong, we have to make amends,” he said. “We, other airlines and other businesses have lost a lot.”
“They should have given us compensation and now we have to wait and see,” Tony Fernandes was quoted as saying by the Malaysian state news agency Bernama, acording to Reuters.
“If there is any damage or loss where one of the parties has made such a claim, I ask them to consider those claims and see if they can help,” Gobind said.
To what extent can the problem be solved? ” He added that the Malaysian government would also assist in these claims as much as possible. The minister said the total number of casualties had not yet been determined.
CyberCube said on Thursday that global insurance losses related to last week’s major IT breach were likely to range from $ 400 million to $ 1.5 billion. According to Reuters.
A US Internet analytics company said this week that a software bug in CrowdStrike’s quality management system has caused a software update error that has led to computer crashes around the world as losses increase. After the disruption of services ranging from airlines to banks.
- Insurance losses from $ 540 million to $ 1.08 billion for the top 500 US companies.
- 5 Government Agencies and 9 companies operating in the aviation, banking and healthcare sectors were among the affected in Malaysia.
- Global Insurance losses were likely between from $ 400 million to $ 1.5 billion.
- Malaysia Urges Microsoft, CrowdStrike To Reconsider Compensation On Global IT Outage
- The world is now awaiting to hear from Microsoft, CrowdStrike's feedback on this compensation issue.
On Tuesday, Tony Fernandes, chief executive of Malaysia’s Capital A, the operator of low-cost carrier AirAsia, said that airlines affected by the IT outage deserved compensation.
“The principle is that if we do something wrong, we have to make amends,” he said. “We, other airlines and other businesses have lost a lot.”
“They should have given us compensation and now we have to wait and see,” Tony Fernandes was quoted as saying by the Malaysian state news agency Bernama. According to Reuters.
“If there is any damage or loss where one of the parties has made such a claim, I ask them to consider those claims and see if they can help,” Gobind said.
To what extent can the problem be solved? ” He added that the Malaysian government would also assist in these claims as much as possible. The minister said the total number of casualties had not yet been determined.
CyberCube said on Thursday that global insurance losses related to last week’s major IT breach were likely to range from $ 400 million to $ 1.5 billion. According to Reuters.
A US Internet analytics company said this week that a software bug in CrowdStrike’s quality management system has caused a software update error that has led to computer crashes around the world as losses increase. After the disruption of services ranging from airlines to banks.
Reuters reports, citing a press release issued by CyberCube, that the outage could be the single biggest loss of internet insurance.
CyberCube said it was “a huge event for the internet insurance market, but not to the detriment level that the big insurance companies are prepared for.”
Insurer Parametrix this week estimated insurance losses from $ 540 million to $ 1.08 billion for the top 500 US companies, excluding Microsoft, which owns their software. Affected by issues caused by CrowdStrike.
