Personal data was compromised during a June cyber incident at Philadelphia Insurance Companies, according to a notice filed with the California Office of the Attorney General.
In a sample letter to affected individuals, Philadelphia Indemnity Insurance Company said it determined, on July 9, that files containing names, dates of birth, and driver’s license numbers had been accessed by an unauthorized party. The insurer is offering one year of identity monitoring services and has implemented additional security measures following the incident.
The breach occurred amid a broader cyber event that disrupted operations across several insurers, including Philadelphia Insurance, Erie Insurance, and First Insurance Company of Hawaii. Erie said on July 7 it had resumed full business operations following weeks of network outages.
A forensic investigation, commissioned by Erie and conducted by external cybersecurity specialists, found no evidence that sensitive personal data, financial records, or legally protected information had been accessed by the threat actor.
Philadelphia Insurance and First Insurance Company of Hawaii are both part of Tokio Marine Holdings Inc. In an update issued July 1, First Insurance stated the cyber event did not involve ransomware, malware, or email systems, and that no systems were encrypted. A forensic investigation remains ongoing, according to a Best Wire report. Philadelphia Insurance echoed those findings at the time.
Philadelphia Insurance Companies (PHLY) is a national property and casualty insurer specializing in niche markets, including nonprofit, educational, and human services sectors. It offers a range of commercial lines products, including general liability, professional liability, and commercial auto. The company operates about 50 offices across the United States and underwrites approximately $3.5 billion in gross written premium.
As of year-end 2023, Philadelphia Indemnity Insurance Company reported total assets of $12.19 billion, policyholders surplus of $3.82 billion, and net income of $575.7 million. Its 2023 net premiums were approximately $3.52 billion, with a loss ratio of 62.8%, according to Weiss Ratings. The company has held an A++ (Superior) financial strength rating from AM Best since 2011.
PHLY ranked sixth in the 2024 J.D. Power U.S. Small Commercial Insurance Study, with a customer satisfaction score of 702, slightly above the industry average of 697.
