On Aon15 Okt 2024

How has CrowdStrike Changed the Cyber Market?

This summer’s CrowdStrike outage highlighted the potential for significant loss in the insurance market and organizations. In this episode, Aon experts weigh in on the impact of the CrowdStrike incident and the cyber and supply chain lessons learned.

Featured in this episode:
Sabba Manyara, Director, Cyber Solutions, Asia
Matt Chmel, Chief Broking Officer, Cyber Solutions Group
Alistair Clarke, Cyber Broking Leader, Global Broking Center

[1:38] The global significance of the CrowdStrike incident
[5:58] What CrowdStrike means for the future of cyber risk
[7:47] Deep dive into the current cyber insurance market

Additional Resources:

Aon’s website

Cyber Resilience Report: Cyber Attacks on Supply Chains Are Causing a Widespread Impact

Overcoming the Reputational Cost of Cyber Attacks: The 10-Day Plan

Responding to the CrowdStrike Outage: Implications for Cyber and Technology Professionals

Responding to the CrowdStrike Outage: Implications for Cyber (Re)Insurance

Client Spotlight: Building a Cyber-Resilient Supply Chain

Tweetables:

"But no one really expected a provider like CrowdStrike to be impacted by such an incident, or to create such an impact." — Sabba Manyara
“This was a very complex situation and a very unique situation for each company individually.” — Matt Chmel
"From insurers, we have heard, in the past, concerns about systemic risk, a widespread event of this magnitude." — Sabba Manyara
“What was so terrifying about this particular outage was that it came as a result of an update by Crowdstrike, one of the world’s leading network security businesses.” — Alistair Clarke
“With cyber, the next loss looks nothing like the last one.” — Alistair Clarke
“I think going into 2025 we’re still going to see a buyer friendly market in terms of the cyber insurance landscape.” — Matt Chmel

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