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Weeks Later, Erie and Philadelphia Insurance Still Working to Restore Networks

Insurance Journal

Erie Insurance reports that it has made progress in reconnecting several business systems and applications as it continues to recover from a network outage that is now 17 days old. The insurer said the network and system outage it initiated …

Insurance 116
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Size of Florida’s Slide Insurance Exec Compensation Has Tongues Wagging

Insurance Journal

When Tampa-based Slide Insurance registered for an initial public stock offering last week, one page of the filing quickly had people talking in the Florida insurance industry. On page 132 of the filing with the U.S. Securities and Exchange Commission …

Insurance 145
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Zurich Insurance Buys Canadian Insurance Technology Firm BOXX

Insurance Journal

Zurich Insurance Group AG agreed to buy BOXX Insurance Inc, a Canadian cyber risk management firm, marking the Swiss insurer’s latest push into the insurance technology sector. The acquisition will see BOXX becoming part of Zurich’s platforms business, Zurich Global …

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Insurer Aflac Investigating Possible Data Breach

Insurance Journal

Aflac on Friday disclosed a cybersecurity incident in which personal information of its customers may have been compromised, making it the latest insurance provider to be targeted. The health and life insurance firm said the attack on its U.S. network, …

Insurance 108
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Insurance Sector Should Be on the Lookout for ‘Scattered Spider’ Hackers

Insurance Journal

Watch out, insurance industry. A well-known cybercrime group appears to have shifted focus to insurers. Apparently, recent cybersecurity incidents at Erie Insurance, Philadelphia Insurance Cos., and most recently Aflac are indicative of a trend. The largely decentralized hacking group known …

Insurance 118
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Florida OIR Wants More Data, Warns Insurers about Concurrent Causation Denials

Insurance Journal

As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices. Florida Insurance Commissioner Michael Yaworsky late last week posted a memo, demanding …

Insurance 116
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Goldman Sees Autonomous Vehicles Transforming Insurance World

Insurance Journal

The rise of autonomous vehicles will force a reconfiguration of the $400 billion US auto-insurance industry, as accidents caused by human error decrease and costs are slashed, but questions about liability remain, according to Goldman Sachs. “Autonomy has the potential …

Insurance 100