July 22 (Reuters) - The global insurance and reinsurance

industry is likely to avoid any major financial impact from the

outage sparked by CrowdStrike's ( CRWD ) glitchy security software update

that disrupted internet services worldwide last week, Fitch

Ratings said.

Preliminary estimates suggest that insured losses could be

in the range of mid-to-high single-digit billion dollars and

most claims would be within the purview of primary insurers, the

ratings agency wrote in a report on Monday.

The findings could allay investor concerns over claims and

litigation stemming from the disruption. Insurers most exposed

to such losses tend to transfer some of their liability to

reinsurers.

CrowdStrike's ( CRWD ) update crashed computers powered by

Microsoft's Windows operating system, restricting several

industries such as airlines, banking and healthcare.

"Although standard cyber insurance covers cloud downtime due

to security failure, operational failure or system failure of

the insured's own operations, it typically does not cover

downtime due to non-malicious cyber events at a third-party

network service provider," said Loretta Worters, a spokesperson

at the Insurance Information Institute.

Fitch, however, said accounting for cyber risk continues to

be difficult for the insurance industry.