A significant opportunity for compensation is available to individuals affected by a data breach involving six insurance companies, as the deadline for claims approaches. Landmark Admin, responsible for administering insurance and retirement plans for these companies, has agreed to a settlement of $6 million amid allegations of inadequate cybersecurity measures that led to a data leak between May 13 and June 17, 2024.
The breach reportedly compromised sensitive customer information, including Social Security numbers, raising concerns regarding the security protocols employed by Landmark Admin. Although the company has not admitted to any wrongdoing, the settlement aims to avoid potential court proceedings. The six insurance companies involved in this case include:
– American Benefit Life Insurance Company
– American Monumental Life Insurance Company
– Capitol Life Insurance Company
– Continental Mutual Insurance Company
– Liberty Bankers Life Insurance Company
– Accendo Insurance Company
Under the terms of the settlement, individuals whose information may have been compromised are eligible to claim compensation. Notifications have been sent to those potentially affected, guiding them on how to proceed with their claims.
Claiming Compensation
Individuals who can demonstrate an out-of-pocket loss due to the breach, such as instances of fraud or identity theft, may claim up to $2,500 with proper documentation. Acceptable proof includes financial records like bank statements or credit reports. For those unable to provide such documentation, claims can still be submitted for a maximum of $30, although this amount may vary depending on the total number of successful claims received.
This settlement fund will be divided among successful claimants, meaning that the more claims filed, the smaller the individual payouts could become.
Important Deadlines
The final date to submit a claim is December 26, 2024. Missing this deadline will result in the forfeiture of compensation opportunities. Additionally, the deadline for objections to the settlement payout was on November 25, 2024. Following the approval hearing scheduled for January 29, 2026, payments will be distributed to eligible claimants.
Individuals interested in filing a claim can visit the settlement website for further details and instructions on submitting their documentation. This settlement represents a significant step towards addressing the concerns of those affected by the data breach and ensuring they receive appropriate compensation for their losses.