Fitch analyzed… Will the insurance industry be affected by the blue screen?

Fitch expects the software issue caused by CrowdStrike to not have a significant impact on the insurance industry.

International credit rating agency Fitch Ratings said the software issue caused by CrowdStrike is unlikely to have a significant impact on the financial results of global insurance and reinsurance companies.

Fitch said preliminary market estimates for global insured losses could be in the mid- to high-single-digit billion-dollar range, which would not translate into a material impact for insurers but are subject to ongoing claims and litigation.

The latest software issue from CrowdStrike is unlikely to have a material impact on the financial results of global insurance and reinsurance companies, the statement said.

The most affected insurance lines will be business interruption, conditional business interruption and cyber, the statement said, adding that some smaller lines such as travel insurance, event cancellation and technology errors and omissions will also be affected.

The statement pointed out that sectors such as healthcare and aviation would be more affected, and noted that, unlike the Americas, a large part of the working day in Asia Pacific, Europe, the Middle East and Africa was affected by the disruption.