We finally know what caused the global tech outage - and how much it cost

Insurers are assessing the financial impact of the recent CrowdStrike software glitch that caused widespread disruptions worldwide. A preliminary report released by CrowdStrike sheds light on the incident, which involved a faulty software update that crashed computers running Microsoft Windows. Fortune 500 companies are estimated to incur over $5 billion in direct losses due to the IT outage. Industries heavily affected include healthcare, banking, and airlines. The incident highlights the risks associated with single points of failure and may prompt calls for accountability from CrowdStrike. The company acknowledged the mistake and is taking steps to prevent such issues in the future.