In one of the larger data breaches in recent months, earlier this week EMC National Life Company reported that the company experienced a data breach impacting 288,288 individuals. According to the EMC National Life, the breach resulted in the full names, as well as one or more of the following being compromised: Social Security numbers, taxpayer identification numbers, driver’s license numbers, financial account information, payment card information, dates of birth, and medical information. On April 8, 2022, EMC National Life began sending out data breach letters to all affected parties at their last known address.
If you received a data breach notification, it is essential you understand what is at risk and what you can do about it. To learn more about how to protect yourself from becoming a victim of fraud or identity theft and what your legal options are in the wake of the EMC National Life data breach, please see our recent piece on the topic here.
What We Know About the EMC National Life Data Breach
According to official notice filed by the company, EMC National Life recently detected what the company thought to be unauthorized access to its network. EMC took the necessary steps to contain the incident and then launched an investigation with the assistance of third-party cybersecurity experts.
On March 9, 2022, the investigation revealed that an unauthorized party was able to access, view, and acquire files containing identifiable personal information.
After learning that sensitive consumer data was accessible to an unauthorized party, EMC National Life then reviewed all affected files to determine what information was compromised and to whom it belonged to. While the breached information varies depending on the individual, it may include your Social Security number, taxpayer identification numbers, driver’s license numbers, financial account information, payment card information, dates of birth, and medical information.
On April 8, 2022, EMC National Life sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.
More Information About EMC National Life Company
EMC National Life Company is an insurance company that is affiliated with EMC Insurance Companies. The company offers temporary and permanent personal and commercial life insurance policies. EMC National Life employs more than 97 people and brings in approximately $75 million in revenue each year. EMC Insurance Companies, the parent company of EMC National Life, has more than 2,400 employees and generates over $1 billion in annual revenue.
Should Data Breach Victims Be Concerned?
Yes, if you get an EMC National Life data breach letter, it is cause for concern. Data breaches are not only becoming more common, but hackers are becoming more selective in who they target and what type of information they are seeking.
A decade ago, hackers would use generalized attacks designed to gather large amounts of data. However, more recently, cybercriminals are targeting the most profitable types of data, which includes: Social Security numbers, bank account information, and credit card account numbers.
When a hacker obtains this personal information, they can either use it themselves or sell it to the highest bidder on the Dark Web. Ultimately, the end result is often the same; whoever ends up with consumers’ sensitive data uses it to steal their identity. Of course, this can wreak havoc on your bank or credit card account and, in turn, on your credit and overall quality of life. For example, recent reports indicate that identity theft victims spend about 200 hours and more than $1,300 recovering their identity.
Importantly, there are steps you can take to mitigate the risks of identity theft following a data breach. For example, by contacting one of the three major credit bureaus to request they add a fraud alert or credit freeze on your account, you will receive a notification anytime anyone tries to pull your credit. Additionally, you should also closely monitor all your financial accounts to catch any unauthorized use immediately.
After a data breach, it is also important to understand your rights. Victims of identity theft may be able to pursue a class action data breach lawsuit against any company that negligently maintained their information.
Suffering through a data breach is undoubtedly a stressful experience. However, it is important not to let the stress overwhelm you. Taking immediate action is critical—both in terms of reducing the risks of identity theft as well as developing a compelling claim against a company that negligently handled your data.
