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A $6 million class action settlement has been reached in a lawsuit against an insurance claim service provider and multiple insurance companies.
The case stems from a 2024 cyberattack on the third-party administrator for life insurance and annuities Landmark Admin, LLC – which exposed the sensitive data of about 1.6 million people.
Hackers accessed names, Social Security numbers, financial accounts, driver’s licenses, and health insurance details.
The class action lawsuit named Landmark Admin and six insurers as defendants: American Benefit Life Insurance Company, American Monumental Life Insurance Company, Capitol Life Insurance Company, Continental Mutual Insurance Company, Liberty Bankers Life Insurance Company, and Accendo Insurance Company
Affected individuals can claim up to $2,500 for documented losses like fraud or identity theft.
Affected individuals without documentation are expected to receive a $30 cash payment unless available funds are exceeded.
The lawsuit was filed in Dallas County, Texas and accused Landmark of failing to implement adequate cybersecurity, leading to identity theft and fraud for some victims.
Landmark denies wrongdoing but settled to avoid further litigation.
Claims must be filed online or by mail by December 26th, with the deadline for opt-out or objection deadline on November 25th.
The final approval hearing will happen on January 29th.
