AM Best Comments on Credit Ratings of Erie Insurance Group and Erie Family Life Insurance Company
BUSINESS WIRE)-- AM Best has commented that the Credit Ratings (ratings) of the property/casualty (P/C) members of Erie Insurance Group (Erie) and Erie Family Life Insurance Company (EFL) remain unchanged following the organization's announcement that it sustained an information security event, which has resulted in a widespread network outage impacting Erie's systems.
On June 11, 2025, Erie filed a form 8-K, which is in accordance with the U.S. Securities and Exchange Commission requirements, providing details on the cybersecurity incident. The Form 8-K discloses Erie identified unusual network activity beginning on June 7, 2025, and took immediate action to respond to the situation. AM Best notes that the organization is engaging third-party service providers to undertake a comprehensive forensic analysis, which is currently ongoing, to understand the full scope, nature and impact to the organization.
To support operations, the organization has activated its business continuity plan, including interim solutions that enable employees to carry out essential functions while system restoration efforts are underway. While the situation remains fluid and 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, which is currently viewed as appropriate.
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
44 minutes ago
- Yahoo
AM Best Wins Silver Telly Awards for ‘Our Purpose' and ‘Our Mission' Videos
OLDWICK, N.J., June 20, 2025--(BUSINESS WIRE)--Two corporate branding videos created by AM Best, Our Purpose and Our Mission, have been named Silver Winners in the General – Corporate Image category of the 46th Annual Telly Awards. The Telly Awards honor excellence in video and television across all screens and are judged by leaders from video platforms, television, streaming networks and production companies. "Our Purpose" illustrates the importance of AM Best's role in helping the insurance industry support the financial stability of communities, businesses and people. "Our Mission" traces the roots of AM Best's business priorities to its founder and his objectives in starting the company. It includes original footage taken on a period-appropriate 19th-century passenger train to illustrate the company's journey from humble beginnings to what is now the largest credit rating agency in the world focused on the insurance industry. To see more of AM Best's awards and recognitions, visit our page. 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 Company, Inc. and/or its RIGHTS RESERVED. View source version on Contacts Lee McDonald Senior Vice President, Publication & News Services +1 908 882 2102 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
an hour ago
- Business Wire
AM Best Withdraws Credit Ratings of ConnectiCare, Inc.
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has withdrawn the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of 'ccc' (Weak) of ConnectiCare, Inc. (Farmington, CT). At the time of the withdrawal, these Credit Ratings were under review with developing implications. The rating withdrawals reflect AM Best's lack of active participation with ConnectiCare, Inc. or its new ownership. AM Best's procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, in this case, a final rating opinion could not be provided due to a lack of sufficient updated financial information and strategy for this entity post-acquisition. 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
Business Wire
2 hours ago
- Business Wire
AM Best Wins Silver Telly Awards for ‘Our Purpose' and ‘Our Mission' Videos
OLDWICK, N.J.--(BUSINESS WIRE)--Two corporate branding videos created by AM Best, Our Purpose and Our Mission, have been named Silver Winners in the General – Corporate Image category of the 46 th Annual Telly Awards. The Telly Awards honor excellence in video and television across all screens and are judged by leaders from video platforms, television, streaming networks and production companies. ' Our Purpose ' illustrates the importance of AM Best's role in helping the insurance industry support the financial stability of communities, businesses and people. ' Our Mission ' traces the roots of AM Best's business priorities to its founder and his objectives in starting the company. It includes original footage taken on a period-appropriate 19 th -century passenger train to illustrate the company's journey from humble beginnings to what is now the largest credit rating agency in the world focused on the insurance industry. To see more of AM Best's awards and recognitions, visit our page. Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates.
