Health insurance giant Anthem has reached a settlement of $115 million after a class action lawsuit related to a 2015 data breach. The agreement—which addresses the breach of patient information including names, date of birth and social security numbers—is set to be the largest data breach settlement if approved by the court.
The $115 million settlement fund will be used to provide victims with two years of credit monitoring, reimbursement for consumers affected by the breach and compensation to those already enrolled in credit monitoring. The settlement will also require Anthem to provide a level of funding for information security and implement changes to its current security systems including encryption of information and archiving data with access controls.
“After two years of intensive litigation and hard work by the parties, we are pleased that consumers who were affected by this data breach will be protected going forward and compensated for past losses,” said Eve Cervantez, co-lead counsel representing the plaintiffs.