Indianapolis-based Anthem will look to settle a class-action suit over a massive 2015 data breach at the health insurance company.
It would be the largest-ever settlement in a data breach case if approved. That’s according to attorneys for the victims in the case.
Anthem proposes a $115 million settlement fund to pay for credit monitoring, expenses and cash compensation for people whose data was stolen. For some, that included social security and health care ID numbers.
The potential victims of the data breach number nearly 80 million – so if all of them cash in on the settlement, each person will get a little less than $1.50.
As part of the settlement, Anthem would also commit more money to improve its data security and encryption systems in the future.
The plaintiffs’ attorneys filed a motion to approve the settlement in federal court Friday. A judge will review that motion in August before the deal moves forward.