Landmark Admin Agrees to $6M Settlement After Breach
Landmark Admin, a third-party administrator providing insurance and retirement plan services, has agreed to a $6 million class action settlement to resolve claims tied to a data breach that affected six U.S. insurance companies. The incident, which allegedly occurred between May 13 and June 17, 2024, exposed sensitive customer information, including Social Security numbers, belonging to policyholders of American Benefit Life, American Monumental Life, Capitol Life, Continental Mutual, Liberty Bankers Life, and Accendo Insurance. Plaintiffs argued that the breach could have been prevented with stronger cybersecurity controls. Impacted individuals have been notified, and the deadline to file a claim is December 26, after which eligible compensation will no longer be available.
This settlement highlights the growing risk concentration within third-party and shared services ecosystems, where a single compromise can cascade across multiple insurers and thousands of policyholders. As regulatory scrutiny and litigation around data protection intensify, organizations that manage sensitive personal and financial information face mounting financial, reputational, and compliance exposure when cyber hygiene falls short - especially when attackers exploit visibility gaps across vendors, infrastructure, and data flows.
To address these risks, organizations must move toward a modern, unified cyber defense and risk management posture built on continuous security validation, attack surface management, zero trust enforcement, cloud security posture management (CSPM), data security posture management (DSPM), identity threat detection, user and entity behavior analytics (UEBA), digital risk protection, and automated incident orchestration with a platform like NIKSUN. By consolidating these capabilities into a single situational awareness platform, enterprises gain the ability to identify exposed data paths, monitor third-party access in real time, and proactively reduce breach likelihood and impact. Read more about this story on our LinkedIn page
This settlement highlights the growing risk concentration within third-party and shared services ecosystems, where a single compromise can cascade across multiple insurers and thousands of policyholders. As regulatory scrutiny and litigation around data protection intensify, organizations that manage sensitive personal and financial information face mounting financial, reputational, and compliance exposure when cyber hygiene falls short - especially when attackers exploit visibility gaps across vendors, infrastructure, and data flows.
To address these risks, organizations must move toward a modern, unified cyber defense and risk management posture built on continuous security validation, attack surface management, zero trust enforcement, cloud security posture management (CSPM), data security posture management (DSPM), identity threat detection, user and entity behavior analytics (UEBA), digital risk protection, and automated incident orchestration with a platform like NIKSUN. By consolidating these capabilities into a single situational awareness platform, enterprises gain the ability to identify exposed data paths, monitor third-party access in real time, and proactively reduce breach likelihood and impact. Read more about this story on our LinkedIn page