Acrisure Lawsuit: Data Breach Settlement Offers Compensation to Affected Clients
Company
Acrisure
Why
Data breach
Maximum Individual Claimant Award
$4,000
Claim Deadline
November 14, 2024
The major data breach at Acrisure, one of America's fastest-growing insurance brokers, has impacted thousands of customers, leading to a significant class action settlement.
For those wondering "what is Acrisure?", it's important to note that this insurance and financial services company manages billions in premiums annually, making this breach particularly significant for both current and former clients. We'll guide you through everything you need to know about the settlement process and how to claim your compensation.
Understanding the Acrisure Data Breach
The details of the Acrisure data breach have emerged through extensive investigation and legal proceedings. On December 28, 2022, Acrisure detected suspicious activity within their computer network. The unauthorized access period extended from December 1, 2022, to January 28, 2023.
Following the discovery, Acrisure took immediate action by:
Notifying law enforcement authorities
Engaging third-party security specialists
Conducting a comprehensive investigation
Reviewing compromised files to identify affected individuals
The class action lawsuit that followed alleged that the company failed to implement appropriate cybersecurity measures, potentially exposing consumers to financial risks. While Acrisure has agreed to settle these claims, they maintain no admission of wrongdoing in the matter.
The financial scope of this incident is significant, with affected individuals eligible for compensation up to $4,000 for documented losses. Additionally, victims can claim $25 per hour for up to four hours spent addressing breach-related issues. The company, which manages approximately $4.3 billion in revenue, has committed to resolving these claims through a comprehensive settlement agreement.
Settlement Details and Compensation
The settlement reached in the Acrisure lawsuit offers substantial compensation for affected individuals. If you're a U.S. resident whose personal information was compromised in the security incident, you're eligible for several forms of compensation.
The settlement benefits include:
Up to $4,000 per claimant for documented, unreimbursed losses
Two years of credit monitoring and identity protection services
Lost time compensation at $25 per hour for up to 4 hours (maximum $100)
We want to emphasize that these unreimbursed losses can include various expenses such as fraud-related charges, identity theft costs, professional fees including attorney and accountant fees, credit repair services, and costs associated with credit freezing.
To claim your benefits, we've identified two convenient submission methods. You can submit your claim online through the official settlement website at www.acrisuredatasecuritysettlement.com, or mail your completed form to the Settlement Administrator in Saint Paul, Minnesota. Remember, all claims must be submitted by November 14, 2024.
It's important to note that even if you previously accepted Acrisure's offer of complimentary credit monitoring services, you're still eligible to claim the two-year credit monitoring benefit under this settlement.
Conclusion
Data breaches can leave lasting impacts on personal and financial security. Through this settlement, we've seen Acrisure take responsibility by offering substantial compensation to affected individuals. The settlement provides up to $4,000 for documented losses, valuable credit monitoring services, and compensation for time spent addressing breach-related issues.