Insurance Company Global Atlantic Hit with Class Action Over May 2023 Data Breach

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The Global Atlantic Financial Group faces a proposed class action over a May 2023 cyberattack that compromised the personal information of current and former customers.

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According to a July 28 notice letter, the New York-based life insurance and retirement company was among the many corporations affected by a data breach involving MOVEit, a popular file transfer platform used by third-party Global Atlantic IT vendor Pension Benefit Information, LLC (PBI).

During the incident, the private data of Global Atlantic policyholders was exposed when an unauthorized actor infiltrated PBI’s MOVEit software between May 29 and May 30 of this year, the notice relays. The 58-page lawsuit shares that the personal information compromised in the breach included customers’ full names, dates of birth, policy numbers, states and Social Security numbers.

As the suit tells it, Global Atlantic failed to ensure the sensitive data with which it was entrusted was safeguarded, including by adequately vetting and monitoring its third-party business vendors and encrypting the information.

The case argues that “[the defendant] could have prevented this data breach by properly securing and encrypting the files and file servers containing the [personally identifiable information] of [the plaintiff] and Class Members or by exercising due diligence in selecting its IT vendors and properly auditing those vendor’s [sic] security practices.”

As a result of Global Atlantic’s alleged negligence, data breach victims now face lifelong risks of fraud, identity theft and other illegal schemes, the complaint claims. Though the company has reportedly offered impacted individuals two years of complimentary identity monitoring services, the filing contests that this gesture is “wholly inadequate.”

The plaintiff, a Global Atlantic customer and Rhode Island resident, says that he has noticed in the wake of the breach an increase in spam communications, and that was informed by LifeLock that his private data was posted on the dark web.

The lawsuit looks to represent anyone in the United States whose personal information was impacted as a result of the Global Atlantic Financial Group data breach.

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