Corporate Risk Solutions, LLC reposted this
Corporate Risk Solutions is closely monitoring the July 24th Microsoft/Crowdstrike cyber situation. As is being reported, this incident is already having material impacts on businesses across all industry sectors and regardless of size. These include lost income, lost business opportunities, potential third-party liability if, for example, companies cannot fulfill obligations to customers, and reputational harm. In turn, insurance carriers will be inundated with claims, which could lead to delays, backlogs and attempts to limit exposure. CRS has been through many of these types of situations, and can guide companies to navigate challenges including, among other things, a) mitigation of negative operational or personnel impact, and b) avoidance of lost revenue or business interruption.