On July 13, 2023, The Franklin Mutual Insurance Group (“FMI”) filed a notice of data breach with the Attorney General of Vermont after discovering that an unauthorized party was able to gain access to FMI’s computer network. In this notice, FMI explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information. Upon completing its investigation, FMI began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from the Franklin Mutual Insurance Group, it is essential you understand what is at risk and what you can do about it. As we’ve discussed in previous posts, to protect your privacy and prevent identity theft, companies have a legal obligation to keep your private information secure. Thus, when a company’s negligence causes or contributes to a data breach, victims may be able to hold the company financially liable through a data breach lawsuit. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft as well as discuss your legal options following the Franklin Mutual Insurance data breach.
What Caused the Franklin Mutual Insurance Breach?
The Franklin Mutual Insurance data breach was only recently announced, and more information is expected in the near future. However, FMI’s filing with the Attorney General of Vermont provides some important information on what led up to the breach. According to this source, FMI recently determined that an unauthorized actor was able to access the company’s computer system as a result of a ransomware attack. While FMI provides little background about what led up to the incident, it notes that the unauthorized access occurred on March 11, 2023.
In response, FMI terminated all unauthorized access, notified the FBI, and then launched an investigation into the incident. The FMI investigation confirmed that the unauthorized party accessed and downloaded consumers’ personal information that was stored on the company’s computer system.
After learning that sensitive consumer data was accessible to an unauthorized party, Franklin Mutual Insurance reviewed the compromised files to determine what information was leaked and which consumers were impacted.
On July 13, 2023, Franklin Mutual Insurance sent out data breach letters to anyone who was affected by the recent data security incident. These letters should inform victims of what information of theirs was compromised as a result of the incident.
More Information About The Franklin Mutual Insurance Group
Founded in 1879, The Franklin Mutual Insurance Group is an insurance company based out of Branchville, New Jersey. FMI offers various consumer policies, including policies for homeowners, condo owners, renters, and landlords. FMI also provides businesses with various insurance products, such as workers’ compensation coverage and business owners’ policies. Franklin Mutual Insurance employs more than 102 people and generates approximately $114 million in annual revenue.