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The Target: Philadelphia Indemnity Insurance designs, markets, and underwrites commercial property/casualty and professional liability insurance products.
The Take: Philadelphia Indemnity launched an investigation and determined by July 9 that the stolen data included names, driver’s license numbers and dates of birth, according to the breach notice.
The Vector: An unauthorized party accessed customer data during an intrusion discovered between June 9 and June 10, according to the disclosure. The company previously called the incident a network outage, however it said there was no ransomware and no encryption.
This breach is a stark reminder of how strong authentication controls are in an overall robust cybersecurity posture, and that good password hygiene plays a pivotal role in protection.
BNN Bloomberg: The average cost of a breach between March 2024 and February 2025 was $6.4 million, down from $6.6 million a year earlier, showed research released from technology giant IBM and the Ponemon Institute, a U.S.-based cybersecurity research centre.
PR Newswire: AXA XL, a leading provider of cyber insurance, is proud to announce the launch of a new suite of proactive cybersecurity assessment offerings for its cyber policyholders in North America, in collaboration with Fenix24, a global leader in ransomware response and recovery.
Cybersecurity Dive: Allianz Life Insurance Company of North America disclosed a massive data breach affecting most of the firm’s 1.4 million U.S. customers, professionals and select employees.
TechCrunch: During the first few months of the new Trump administration, the White House slashed cybersecurity budgets, staff, and initiatives. And some, including cybersecurity experts and legislators, are not happy about it.
Hedge Week: The Globe and Mail report cites the firm as revealing the breach in a letter to investors this week, stating that an unauthorised party accessed data through a third-party IT provider, rather than directly penetrating Waratah’s internal network.
Investing.com: Rapid7, Inc., a cybersecurity company generating $849 million in annual revenue with healthy gross margins of 71%, announced the release of Active Patching, a new automated patching and remediation solution integrated into its Exposure Command platform.
Dark Reading: Darktrace has acquired Mira Security, a startup that provides network traffic visibility solutions. Financial terms were not disclosed. The acquisition will strengthen Darktrace's network security portfolio through improved insights into encrypted network traffic, the company said.
Cointelegraph: US House Republicans are seeking to cut the Securities and Exchange Commission’s 2026 budget by 7%, while axing funds for enforcing a Biden-era rule that requires public companies to disclose cyber incidents.
CNBC: Microsoft has warned of “active attacks” targeting its SharePoint collaboration software, with security researchers noting that organizations worldwide stand to be affected by the breach.
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