Nearly 2 million Americans may receive up to $2,500 each after major data breach settlement

Up to 1.6 million individuals who had invested their money in insurance and retirement funds had their personal details leaked due to a cyberattack that occurred somewhere between May 13 and June 17, 2024.

Landmark Admin, the firm handling the retirement and insurance plans of these people on behalf of six insurance companies, has decided to settle the suit filed against it for breach of privacy by paying $6 million.

The class action lawsuit against Landmark Admin named six insurance companies as defendants, as per The Sun.

These companies are: 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.

As per the publication, the leaked personal information included social security numbers, financial details, and health insurance data of nearly 2 million people.

Also read: Over 70,000 government ID photos leaked in Discord data breach: Who’s affected and what Discord is saying

How much compensation will be available?

The plaintiffs in the case argued that the failure to prevent the cyber attack “was a direct result of (the defendant companies’) failure to implement adequate and reasonable cybersecurity procedures,” CNBC reports.

The plea also said that the defendants “maintained, used and shared the private information in a reckless manner”.

With $6 million to be paid by Landmark Admin to settle the case, the aggrieved individuals are eligible to receive damages. Those who suffered losses that can be proven can receive compensation up to $2,500.

However, it has to be established through evidence that the person in question has indeed suffered a loss due to the leakage of the data. Those who cannot firmly establish this will be liable to be paid only $30.

Deadline for filing a claim

According to CNBC, the deadline for affected individuals to apply for compensation is 11:59:59 PM Central Time on December 26.

The approval hearings will conclude on January 29, 2026, and the payments will go out afterward. Landmark Admin is sending emails to inform the individuals concerned about the settlement and their possible claims to receive money in damages.

FAQs

What is Landmark Admin?

Landmark Admin is a company that acts as an intermediary between customers and insurance companies, handling customers’ retirement and insurance policies.

What type of customer data was leaked?

The information leaked included personal details, health-related data and financial details of individuals.

How much money will the affected individuals receive?

Depending on the losses that people suffered, compensation can go up to $2,500. Those who can’t prove losses due to the data leak are eligible only for $30.