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Sun Life Financial Inc
Symbol SLF
Shares Issued 579,764,157
Close 2024-07-19 C$ 68.00
Market Cap C$ 39,423,962,676
Recent Sedar Documents

Globe says Intact, others feel effects of tech outage

2024-07-22 08:20 ET - In the News

See In the News (C-IFC) Intact Financial Corp

The Globe and Mail reports in its Saturday edition that it was supposed to be a routine update, the kind of digital missive that software companies send to customers to provide the latest features and fix bugs. The Globe's Sean Silcoff writes, however, that a defect in an update sent by cybersecurity giant CrowdStrike to customers that use Microsoft Windows resulted in a colossal string of information technology outages around the globe Friday. Hospitals, banks, insurers, airlines, grocers, emergency service providers and countless others were thrown into chaos as computers used to run their operations were rendered useless by the defect. Intact Financial reported delays in the abilities of subsidiaries Belairdirect and Johnson Insurance to serve customers, later saying all systems were restored by late afternoon. Sun Life Financial saw a disruption to some of its global systems, though its Canadian clients were still able to access accounts and submit claims. Insurance Bureau of Canada said it was too early to predict the impact of the IT outages on insurers and their policyholders, but said they could potentially trigger claims. Starbucks said its mobile order ahead and pay features were temporarily unavailable.

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