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 Corporations, headquartered in Bala Cynwyd, confirmed a system outage on June 11, affecting its telephone, e mail, and on-line software entry. The one on-line performance accessible was a message on the corporate’s web site confirming the outage. Regardless of the disruption, policyholders may nonetheless file claims through telephone.
This growth comes shortly after Erie Insurance coverage disclosed a community outage that started on June 7. In response to an announcement posted on June 11, Erie’s info safety crew detected uncommon exercise and took steps to isolate and defend 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 by way of its native brokers and telephone traces, the corporate has warned clients to keep away from clicking hyperlinks from unknown sources or sharing private info through telephone or e mail. Clients are suggested to contact their agent immediately for policy-related questions.
Each insurers have said 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 have 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 earnings for fiscal yr 2024. Whereas the group noticed total positive aspects, earnings from North American operations, together with Philadelphia Insurance coverage, declined. Components contributing to the lower included larger losses from pure catastrophes, decreased releases of prior-year loss reserves, and loan-related provisions. These have been partially offset by underwriting outcomes and funding earnings.
The current outages at two regional insurers increase operational issues about service continuity and knowledge safety within the insurance coverage sector. The occasions comply with an growing variety of cyber-related incidents affecting corporations throughout industries, although each firms have up to now stored particulars of the trigger inner.
How ought to insurers reply to digital disruptions to take care of policyholder belief and repair entry? Go away your ideas within the feedback.