Two Pennsylvania-based property and casualty insurers are responding to separate community disruptions which have restricted policyholder entry to digital companies and communication traces.
Philadelphia Insurance coverage Firms, headquartered in Bala Cynwyd, confirmed a system outage on June 11, affecting its cellphone, electronic mail, and on-line utility entry. The one on-line performance obtainable was a message on the corporate’s web site confirming the outage. Regardless of the disruption, policyholders may nonetheless file claims through cellphone.
This improvement comes shortly after Erie Insurance coverage disclosed a community outage that started on June 7. In response to a press release posted on June 11, Erie’s data safety group detected uncommon exercise and took steps to isolate and shield its techniques. The insurer is working with legislation enforcement and third-party cybersecurity specialists to find out the character and scope of the incident.
Though Erie has partially restored entry via its native brokers and cellphone traces, the corporate has warned prospects to keep away from clicking hyperlinks from unknown sources or sharing private data through cellphone or electronic mail. Clients are suggested to contact their agent immediately for policy-related questions.
Each insurers have acknowledged that efforts are ongoing to resolve the outages and restore regular operations. Neither firm has linked the 2 incidents or disclosed whether or not the disruptions had been the results of a cybersecurity breach.
Philadelphia Insurance coverage is a part of Japan-based Tokio Marine Holdings Inc., which lately reported elevated internet revenue for fiscal 12 months 2024. Whereas the group noticed total features, earnings from North American operations, together with Philadelphia Insurance coverage, declined. Elements contributing to the lower included increased losses from pure catastrophes, diminished releases of prior-year loss reserves, and loan-related provisions. These had been partially offset by underwriting outcomes and funding revenue.
The current outages at two regional insurers elevate operational issues about service continuity and information safety within the insurance coverage sector. The occasions comply with an growing variety of cyber-related incidents affecting corporations throughout industries, although each corporations have thus far saved particulars of the trigger inner.
How ought to insurers reply to digital disruptions to keep up policyholder belief and repair entry? Go away your ideas within the feedback.
