Two Pennsylvania-based property and casualty insurers are responding to separate community disruptions which have restricted policyholder entry to digital providers and communication strains.
Philadelphia Insurance coverage Firms, headquartered in Bala Cynwyd, confirmed a system outage on June 11, affecting its telephone, electronic mail, and on-line software 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 by way of telephone.
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 staff 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 by way of its native brokers and telephone strains, the corporate has warned clients to keep away from clicking hyperlinks from unknown sources or sharing private data by way of telephone or electronic mail. Clients are suggested to contact their agent straight 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 just lately reported elevated web revenue for fiscal 12 months 2024. Whereas the group noticed general good points, earnings from North American operations, together with Philadelphia Insurance coverage, declined. Components contributing to the lower included increased 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 revenue.
The current outages at two regional insurers increase operational considerations about service continuity and knowledge safety within the insurance coverage sector. The occasions observe an growing variety of cyber-related incidents affecting corporations throughout industries, although each corporations have thus far stored particulars of the trigger inside.
How ought to insurers reply to digital disruptions to keep up policyholder belief and repair entry? Go away your ideas within the feedback.
