It all started with cybersecurity firm Crowdstrike’s botched software update that affected Microsoft Windows. The IT crisis affected businesses worldwide and many travelers were stuck at airports. Now it is unclear who will be responsible for the compensation, but it does not look like it will be Crowdstrike themselves. It writes Sky News.
And the reasons for this are many. First of all, it is difficult to determine the total cost of the IT failure, especially so soon after the crash.
In addition, it may be difficult for the companies and individuals affected by the cyber crisis to prove that their losses were due to Crowdstrike’s software update. And Crowdstrike themselves are expected to be covered by insurance.
Unclear compensation rules for air passengers
The industry that has been hit the hardest is most likely the aviation industry. And if you, as an air traveler, want to request compensation, this can be difficult.
In part, the rules for compensation differ between the EU and the US. For one thing, it is unclear who the customer should request compensation from.
Normally, customers can contact their airline directly, but in this case the airlines can claim that they do not have to pay because of “extraordinary circumstances”.
Home insurance does not cover
And neither do the Swedish insurance companies appear to be able to provide any compensation.
– The basic cover in the home insurance covers costs if you become ill or injure yourself while you are travelling, but does not cover costs for this type of event. It is the tour operator who assesses when and how travelers should be compensated in the event of delays, says Håkan Franzén, insurance expert at Trygg-Hansa to DN.
But despite Crowdstrike’s update having such huge financial consequences worldwide, companies seem to be doing pretty well.
Their share only fell by 11 percent on Friday, which, according to Sky News, indicates that investors feel confident that the company itself does not have to pay for the consequences of the IT crisis.