Two Pennsylvania-based property and casualty insurers are responding to separate community disruptions which have restricted policyholder entry to digital providers 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 utility entry. The one on-line performance out there was a message on the corporate’s web site confirming the outage. Regardless of the disruption, policyholders may nonetheless file claims through telephone.
This improvement comes shortly after Erie Insurance coverage disclosed a community outage that started on June 7. Based on an announcement posted on June 11, Erie’s data safety group detected uncommon exercise and took steps to isolate and defend its methods. The insurer is working with regulation 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 telephone traces, the corporate has warned prospects to keep away from clicking hyperlinks from unknown sources or sharing private data through telephone or e-mail. Prospects are suggested to contact their agent instantly 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 not too long ago reported elevated internet earnings for fiscal yr 2024. Whereas the group noticed total positive factors, earnings from North American operations, together with Philadelphia Insurance coverage, declined. Components contributing to the lower included increased losses from pure catastrophes, diminished 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 considerations about service continuity and knowledge safety within the insurance coverage sector. The occasions comply with an growing variety of cyber-related incidents affecting companies throughout industries, although each firms have up to now saved particulars of the trigger inside.
How ought to insurers reply to digital disruptions to keep up policyholder belief and repair entry? Depart your ideas within the feedback.
