Modeling firm gives loss estimate from AWS outage

A preliminary loss estimate for the Amazon Web Services outage Monday ranges from $38 million to $581 million, cyber modeling firm CyberCube said Thursday.

The event is expected to have a loss ratio impact for cyber insurers in the low- to mid-single digits and presents the potential for only “moderate” insurance impact, CyberCube said.

The estimates were in a second Security Incident Report the modeler published on the outage this week for clients.

In the latest report, CyberCube’s analysis shows that the outage is likely to have affected over 2,000 large organizations and nearly 70,000 organizations in total.

The initial procedures of CyberCube’s Cyber Aggregation Event Response Service were activated after the Oct. 20 outage, which the company said affected a broad set of downstream dependent platforms, including Snapchat, Fortnite, Roblox, Atlassian and fintech apps such as Coinbase and Venmo and IoT/smart-home services such as Ring.