Erie Insurance CEO Discusses Cyber Incident and Company Resilience

ERIE, Pa. — For the first time since Erie Insurance confirmed an information security incident on June 8, President and CEO Tim Necastro shared insights during an on-camera interview. He told Erie News Now that he is impressed with the company's resilience and relieved that they have resumed full operations.

Initially, Erie Insurance announced in late June they had control of their network and were not currently facing a ransomware attack. On Monday, the company revealed the outcome of a forensic investigation conducted by independent cybersecurity specialists.

"Early yesterday we learned that we also had no breach of any private information or sensitive information, as those things are defined by law, so we were able to report that, really…signaling the all clear," Necastro stated.

While dealing with a cyber attack was not how Necastro envisioned the company would celebrate its 100th anniversary, he expressed admiration for how the team united to restore normalcy at Erie Insurance. "This has been a challenging time, but it's also been an encouraging time — the way that our employees and agents came together was extremely impressive," he said.

Navigating this cyber incident has been a testament to the company's historic resilience. Necastro noted that founder H.O. Hirt had to adapt numerous times in the first 50 years after establishing Erie Insurance in 1925, surviving economic hardships including the Great Depression and wartime struggles.

"That same spirit of pioneering and service first, service to each other – that was demonstrated in real time. H.O. never had to encounter a cyber attack, but if he had, I'm confident he would have done some of the same exact things I did," Necastro added.

In reflecting on the situation, Necastro noted that Erie Insurance learned valuable lessons during this period. "We learned a lot during this time frame, similar to what we did during the pandemic, but in a much shorter, concentrated dose. Some insights we gained will help us build our business in the future," he explained.

Lastly, Necastro thanked customers and longtime policyholders for their patience during the network outage. He acknowledged that many reached out to check on the company or to pay their bills. While he declined to comment on ongoing federal lawsuits related to an alleged data breach, he emphasized that the results of the forensic investigation are clear. Viewers can catch the complete interview with Tim Necastro this weekend on the Insider with host Lisa Adams.