Latest news with #PhiladelphiaInsurance
Yahoo
24-06-2025
- Business
- Yahoo
AM Best Comments on Credit Ratings of Philadelphia Insurance Companies' Members; Tokio Marine America Group and First Insurance Company of Hawaii, Ltd.'s Subsidiaries
OLDWICK, N.J., June 24, 2025--(BUSINESS WIRE)--AM Best has commented that the Credit Ratings (ratings) of Philadelphia Indemnity Insurance Company and its affiliate, Tokio Marine Specialty Insurance Company (both headquartered in Bala Cynwyd, PA), which operate under a pooling agreement, collectively referred to as Philadelphia Insurance Companies (Philadelphia); along with Tokio Marine America Group and First Insurance Company of Hawaii, Ltd.'s (FICOH) (Honolulu, HI) subsidiaries remain unchanged following the organization's announcement that it sustained an information security event, which has resulted in a widespread network outage impacting Philadelphia, Tokio Marine America Group and FICOH's systems. On June 9, 2025, the organization received an alert regarding suspicious activity on its IT network. The organization took immediate actions to respond to the situation and disconnected affected systems to contain the threat. AM Best notes that the organization notified law enforcement and is engaged in a comprehensive forensic analysis, which is currently ongoing to determine the full scope, nature and ultimate impact to the organization. Philadelphia, Tokio Marine America Group and FICOH have activated their business continuity plans, including interim solutions that enable employees to carry out essential functions, while system restoration efforts are underway. While the situation continues to evolve, AM Best will continue to monitor the cyber event for any signs that the incident may impair the company's operational capabilities, harm its reputation or market position, or prompt a reassessment of its enterprise risk management capabilities. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Thomas Keelan Financial Analyst +1 908 882 1925 Edin Imsirovic Director +1 908 882 1903 Charles Chiang Senior Financial Analyst +8 522 827 3427 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
Yahoo
22-06-2025
- Business
- Yahoo
Customer data possibly leaked in Aflac cyberattack, the third insurance hack this month
Insurance company Aflac disclosed this week that cybercriminals breached its U.S. network and may have accessed customers' personal information, the latest in a string of cyberattacks on insurance companies announced this month. Aflac, which provides home and life insurance and manages data for more than 50 million policyholders, said in a June 20 federal regulatory filing it identified suspicious activity on its U.S. network on June 12. The company said it believes it stopped the intrusion within hours of identifying it, calling the attack part of a 'cybercrime campaign against the insurance industry.' The breach potentially impacted files containing customers' personal information, such as Social Security numbers and health-related details. Aflac said it is investigating the breach with the help of third-party cybersecurity experts and has not yet determined how many customers were affected. An Aflac spokesperson told Reuters that the characteristics of the incident were consistent with the hacking group Scattered Spider, which has a reputation for targeting multiple companies in a single industry in waves. More: This is how you stop online trackers from collecting your health data Latest Tech News: Is TikTok getting banned? Trump says he'll 'probably' extend deadline again It's the largest insurance provider yet to disclose a breach this month, after cyberattacks on Erie Insurance and Philadelphia Insurance Companies disrupted their network operations. Aflac said the attack did not affect its systems and it is able to continue providing services as usual while it responds to the security breach. Contributing: Reuters. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr. This article originally appeared on USA TODAY: Aflac investigating data leak after cyber attack breach hack
Yahoo
21-06-2025
- Business
- Yahoo
Customer data possibly leaked in Aflac cyberattack, the third insurance hack this month
Insurance company Aflac disclosed this week that cybercriminals breached its U.S. network and may have accessed customers' personal information, the latest in a string of cyberattacks on insurance companies announced this month. Aflac, which provides home and life insurance and manages data for more than 50 million policyholders, said in a June 20 federal regulatory filing it identified suspicious activity on its U.S. network on June 12. The company said it believes it stopped the intrusion within hours of identifying it, calling the attack part of a 'cybercrime campaign against the insurance industry.' The breach potentially impacted files containing customers' personal information, such as Social Security numbers and health-related details. Aflac said it is investigating the breach with the help of third-party cybersecurity experts and has not yet determined how many customers were affected. An Aflac spokesperson told Reuters that the characteristics of the incident were consistent with the hacking group Scattered Spider, which has a reputation for targeting multiple companies in a single industry in waves. More: This is how you stop online trackers from collecting your health data Latest Tech News: Is TikTok getting banned? Trump says he'll 'probably' extend deadline again It's the largest insurance provider yet to disclose a breach this month, after cyberattacks on Erie Insurance and Philadelphia Insurance Companies disrupted their network operations. Aflac said the attack did not affect its systems and it is able to continue providing services as usual while it responds to the security breach. Contributing: Reuters. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr. This article originally appeared on USA TODAY: Aflac investigating data leak after cyber attack breach hack
CNET
20-06-2025
- Business
- CNET
Cybercriminals Breach Aflac, Private Customer Data Could Be At Risk
Aflac said Friday that cybercriminals breached its computer systems, potentially exposing some of the most personal data including the Social Security numbers and healthcare information of an unknown number of Americans and marking the latest in a recent string of online attacks against insurance companies. The Columbus, Georgia-based insurance giant said that it detected suspicious activity on its US networks, quickly responded to it and managed to stop the online intruders "within hours." Aflac added that its business remains operational and that its systems were not infected with ransomware. Aflac is the latest and biggest insurance companies to so far be targeted by cybercriminals. Philadelphia Insurance and Erie Insurance were both hit by cyberattacks earlier this month and have yet to resume full operations. "This attack, like many insurance companies are currently experiencing, was caused by a sophisticated cybercrime group," Aflac said in a statement without providing details to back that claim. "This was part of a cybercrime campaign against the insurance industry." Aflac said that it's working with outside cybersecurity experts to investigate the breach. It's in the process of determining which of its files were potentially compromised and how many people may have been affected. The potentially affected files could include customer data like Social Security numbers, insurance claims, health information and other personal details. Information about Aflac's employees, agents and other people involved in its US businesses could also be compromised, the company said. While that investigation is still in its early stages, Aflac it appears that the attackers gained access to its networks through a social engineering attack, where instead of breaking into a computer system attackers will often pose as someone in authority like an executive or a IT worker to trick an employee into handing over their legitimate login credentials. John Hultquist, chief analyst for Google's Threat Intelligence Group, said the recent attacks against the insurance companies "bear all the hallmarks" of the Scattered Spider cybercrime group, which has been previously tied to high-profile attacks against financial services, telecommunications and Las Vegas casinos and hotels. "Given this actor's history of focusing on a sector at a time, the insurance industry should be on high alert, especially for social engineering schemes which target their help desks and call centers," Hultquist said in a statement. While it's yet to be determined exactly who has been affected and how bad the damage could be, Aflac has taken the unsual step of already offering to provide free credit monitoring, identity theft protection and Medical Shield coverage for 24 months to customers who contact its call center at 855-361-0305. Aflac is the largest provider of supplemental health insurance in the US and has a global customer base of about 50 million people.
Fast Company
20-06-2025
- Business
- Fast Company
Aflac hacked: Social Security numbers, claims, and health data at risk in insurance firm cyberattack
Aflac Incorporated (NYSE: AFL) was the most recent target of a 'sophisticated cybercrime group' that has led a campaign against a number of insurance companies in recent weeks, according to a statement issued by the company today. The cyberattack, which was first identified by the company June 12, was stopped within a few hours and business operations were not impacted. However, the number of Aflac insurance-holders affected by the breach is still unknown. Files containing personal information, such as Social Security numbers, health information, and insurance claims information, could have been compromised during the attack, the company said. 'We regret that this incident occurred,' the company wrote in a statement. 'We will be working to keep our stakeholders informed as we learn more and continue investigating the incident.' During the investigation, Aflac is offering credit monitoring, identity theft protection, and a two year Medical Shield policy for free to any customers who call their incident-dedicated call center. The company suspects social engineering helped the cybercrime group infiltrate its networks. Social engineering—which includes tactics like phishing emails—involves deceiving a victim into revealing personal information or providing access into otherwise secure systems. Aflac is only the latest insurance company impacted by these cybersecurity incidents. Erie Insurance and Philadelphia Insurance Companies issued statements about similar cyberattacks earlier this week, exposing a growing threat to the insurance industry. The insurance industry is a recent target of a cybercrime group called Scattered Spider, John Hultquist, chief analyst of Google's threat intelligence group, shared Monday on X. Scattered Spider, also known as UNC3944, is reportedly a group of hackers who target large organizations primarily in English-speaking countries. The group previously gained attention targeting U.K. retailers, such as Marks & Spencer and Harrods. To defend against attacks by Scattered Spider, Google's threat intelligence group suggests companies should educate employees about social engineering tactics and strengthen security measures, such as identity verification and authentication procedures. Aflac did not immediately respond to a request for comment about which social engineering tactics were used in the attack and whether additional cybersecurity measures would be put in place to ward off future attacks. After a 1.37% drop between the close of trading Wednesday and opening on Friday, Aflac's stock price is looking up as the dust settles following the incident.
