Bankers Life
Data Breach Class Action Lawsuit

January 30, 2024 -- Attention: victims of the Bankers Life data breach.

Abington Cole + Ellery is investigating the recently announced Bankers Life data breach.

On November 29, 2023, Bankers Life identified an incident where a threat actor targeted the mobile account of a high-ranking company official. This actor executed a SIM swapping attack, effectively circumventing the company's multi-factor authentication and other security measures intended to safeguard company data. Following the discovery of the incident, Bankers Life immediately informed law enforcement and commenced collaboration with the Federal Bureau of Investigation, U.S. Attorneys' Offices, and initiated a comprehensive investigation.

Upon detection of the breach, Bankers Life initiated containment measures to halt any further unauthorized access. Actions included revoking the affected officer’s corporate access, changing staff passwords, and blocking potential entry points for the threat actor. The company conducted a thorough scan of its systems, fortified its security infrastructure to deter similar incidents, and engaged federal law enforcement alongside an independent forensics firm to deepen the investigation. Measures were also implemented to tighten and oversee access to Bankers Life's systems and reinforce existing security protocols.

As a result of the data breach, Bankers Life is offering free credit monitoring and/or identity theft protection services to affected individuals.

Approximately 45,800 individuals were affected by the Bankers Life data breach.

Breached data may include, but is not necessarily limited to: names, dates of birth, policy number(s), and Social Security numbers.

Additional information about the Bankers Life data breach may be found here: Bankers Life.

Headquartered in Chicago, Illinois, Bankers Life, under CNO Financial Group, Inc., provides various insurance and financial services targeting retirees. The company focuses on Medicare Supplement insurance, life insurance, long-term care insurance, and annuities. It is dedicated to offering customized service via a team of more than 5,000 insurance agents who help craft individual solutions. Moreover, Bankers Life engages in charitable work, particularly notable for its substantial fundraising contributions to the Alzheimer's Association.

Bankers Life offers various insurance and retirement products. Offerings include Medicare Supplement Insurance, Life Insurance (Term, Whole, Universal, and Juvenile), Long-term Care Insurance, Supplemental Health Insurance (like Critical Illness and Hospital Indemnity), and Annuities.

Bankers Life also offers customized wealth management services, focusing on developing individual investment strategies and providing expert guidance. Their services include portfolio evaluations and a variety of investment vehicles aimed at meeting diverse financial objectives, such as funding retirement, acquiring property, or saving for educational expenses. The firm highlights the significance of proactive retirement planning.

For more information about steps you can take to possibly reduce the chances harm arising from a data breach, please review the following article: What are some steps you can take if you've been the victim of a data breach?

If you believe you are a victim of the Bankers Life data breach, and would like to participate in a class action lawsuit regarding this data breach, please submit your information via the form on this webpage. This website is not associated with nor authorized by Bankers Life or any affiliated companies.