ALERT
Service disruptions that began Thursday, November 12 are impacting Outlook, Teams, SharePoint, and other Microsoft 365 services..
SterlingRisk is actively monitoring the widespread Microsoft 365 outage that began Thursday, November 12, disrupting Outlook, Teams, SharePoint, and other services used by businesses worldwide.
Microsoft has reported progress restoring services but has not yet confirmed the cause of the outage or identified evidence of malicious activity.
Potential Insurance Implications
Businesses experiencing financial losses or operational disruptions may have coverage under their cyber insurance policies, including:
- Business Interruption: Lost income and additional expenses resulting from a covered system failure.
- Dependent Business Interruption: Losses caused by an outage affecting a third-party technology provider.
- System Failure: Coverage for certain non-malicious technology failures.
Coverage depends on individual policy terms, including applicable waiting periods, deductibles, sublimits, and exclusions.
Recommended Actions
Affected businesses should document the duration and extent of the disruption, track associated financial losses and expenses, and preserve relevant communications and outage notifications.
Clients experiencing material impacts should contact their SterlingRisk representative promptly to discuss potential coverage and claim notification requirements.
Questions or Need Guidance?
For additional guidance, contact your SterlingRisk representative or call 516-487-0300.
DISCLAIMER: This article is provided by SterlingRisk Insurance for general informational purposes only and should not be construed as legal or insurance advice. Always review your individual policy terms and consult your broker or legal counsel regarding your specific situation.
