Cyber insurer Parametrix released a new report this week showing that one in four Fortune 500 companies experienced a service disruption due to Friday’s global IT outages, and likely lost a combined $5.4 billion, the vast majority of it uninsured.

No outage has ever reached the scale of last week’s CrowdStrike incident, and the report this week provides some of the first estimates on the financial fallout.

The outage was likely to be “the biggest accumulation event we ever saw in cyber insurance”, Parametrix CEO Jonatan Hatzor told Reuters. “This event travelled very fast and was very global.”

Hatzor estimated that financial losses globally from the outage could total around $15 billion, as companies struggle to get their computers back up to speed. “Global insured losses could total around $1.5-3 billion,” Hatzor added.

Parametrix enables companies to quantify, manage, & transfer their cloud outage risk exposure with unprecedented accuracy, and given recent events, it has never been more clear how vital their platform is.

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