But, according to the cybersecurity company's terms and conditions, CrowdStrike doesn't have to shell out anything more than a simple refund.
The terms for CrowdStrike's Falcon security software — which is used by companies and government agencies around the world — limit liability to "fees paid."
AdvertisementThat means CrowdStrike users who signed the standard terms and conditions can't expect to get more than a refund from the company, Waller said.
Related storiesBigger companies using CrowdStrike's software — like some of the airlines or hospital chains affected — may have negotiated different terms and conditions contracts with the cybersecurity company.
According to Waller, most cyber insurance companies have policies that cover "contingent business interruption" or "dependent business interruption."
Persons:
—, Elizabeth Burgin Waller, Woods, Waller, CrowdStrike didn't, I've, CrowdStrike, We've, SolarWinds, Paul Engelmayer
Organizations:
Service, CrowdStrike's Falcon, Business, CrowdStrike, Woods Rogers, CrowdStrike's, SEC, Securities and Exchange Commission
Locations:
Manhattan, Russian