by AIP Online Bureau | Dec 14, 2024 | Eco/Invest/Demography, International News, Risk Management, Technology
Meta’s outage is a timely reminder of the need to engineer critical systems to maximise their reliability, including minimising central points of failure and employing engineering principles like fault isolation Melbourne: A major outage is affecting users of popular...
by AIP Online Bureau | Sep 25, 2024 | Eco/Invest/Demography, International News, Risk Management, Technology
Delta Air Lines has vowed to take legal action, saying the outage forced it to cancel 7,000 flights, impacting 1.3 million passengers over five days, and cost it $500 million. CrowdStrike rejected Delta’s contention, that it should be blamed for massive flight...
by AIP Online Bureau | Aug 2, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management, Technology, Workplace/Employee Benefits
Speaking on CNBC, Bastian said Wednesday that the monetary amount represents lost revenue as well as “the tens of millions of dollars per day in compensation and hotels” for the five-day period. Delta Air Lines CEO Ed Bastian says the airline is facing $500 million in...
by AIP Online Bureau | Jul 25, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Technology
Reinsurance broker Guy Carpenter said that insurers may face claims on directors and officers’ and property insurance as a result of the outage, in addition to cyber insurance claims Global insured losses from last week’s massive IT outage are likely to range from...
by AIP Online Bureau | Jul 24, 2024 | Articles, Eco/Invest/Demography, Non-Life, Reinsurance, Risk Management, Technology
Insurers are expecting a “wave of notifications” in the coming days, and losses are likely to be seen under business interruption and dependent business interruption insuring clauses, Acrisure Re said in its bulletin. Insurers may also suffer...
