Anthem Reaches $115M Data Breach Settlement

Anthem Reaches $115M Data Breach Settlement”

A proposed settlement has been reached in the landmark Anthem data breach case, which saw the personal information of almost 79 million people stolen and is being referred to as the biggest data breach in history, lawyers involved with the case announced. If approved by the court, the $115 million deal will be the largest data breach settlement in history.

In a statement posted to its website on Friday, Anthem stated that the settlement does not include any finding of wrongdoing, and the company is not admitting any wrongdoing or that any individuals were harmed as a result of the cyber attack.

The motion is scheduled to be heard on August 17, 2017. More than 100 lawsuits were filed against Anthem as a result.

Anthem discovered the cyberattack in late January 2015 and contacted the Federal Bureau of Investigation. Senate health committee Chairman Lamar Alexander and Ranking Member Patty Murray wrote a letter to Anthem President and CEO Joseph Swedish in March 2015. Now, just over two years after the attack, lawyers for the plaintiffs in the case announced that they had reached a settlement with Anthem. The information compromised included names, birthdates, Social Security numbers, medical IDs, street and e-mail addresses and employee data, including income, Anthem said at the time.

The company agreed to set aside funding for cybersecurity improvements as well as cover two years of credit protection and $15 million worth of out-of-pocket costs for those affected. The company will also have to provide compensation to customers already enrolled in credit monitoring services.

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The funds will mostly go towards two years of credit monitoring for the breach's victims.

As part of the settlement, Anthem would also commit more money to improve its data security and encryption systems in the future.

Anthem officials said the settlement does not indicate that the company was at fault for the breach, but the company will be making changes to its security program as part of the agreement.

The attacker's identity was determined with a "high degree of confidence" and "concluded with a medium degree of confidence that the attacker was acting on behalf of a foreign government".

"While we appreciate your efforts to keep our Committee informed of your efforts to respond to the attack after you became aware of it, we are troubled by Anthem's delay in notifying these 78.8 million Americans", Alexander and Murray stated.

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