Has The Global Crowdstrike Outage Affected Your Quote?
The insurance industry were affected by the global IT outages last week which may have adversely affected pricing structures resulting in higher online quotes, the general advice offered is to check or get another quote to make sure you are paying the correct premium.
According to data released by Consumer Intelligence some quotes increased from 32% to 64%,
Check Your Insurance Quotes
This industry-wide alert follows a defective update issued on July 19th by cybersecurity company CrowdStrike, which adversely affected approximately 8.5 million devices globally.
The glitch caused considerable disruptions within the general insurance market, most notably in pricing structures. According to the latest data from Consumer Intelligence, on the day of the incident, prices surged for 17 home insurance brands.
Particularly alarming was the four brands which recorded average increases ranging from 32% to a 65% for annual premiums. In one extreme instance, the annual premium for a policy rose by £439. The disappearance of some key underwriters from the market was a significant factor contributing to these sharp price increases.
