Globe Life, a major insurance firm, claims that an unidentified threat actor tried to demand money in return for keeping data that was taken from its computers early this year.
With a market valuation of $12 billion and a total revenue of over $5.3 billion, Globe Life, which was founded in 1900, is one of the biggest providers of health and life insurance products in the US.
After learning that they had been penetrated while examining possible weaknesses in access permissions and user identity management for its web portal, Globe Life earlier announced a data breach on June 13.
After a successful breach of one of the web portals, the company at the time issued a warning that the hackers might have gained access to policyholder and customer data.
Even though the event didn’t cause a major disruption to the company’s operations, there was worry about what data might have been stolen because this kind of situation might affect millions of people.
At least 5,000 clients of Globe Life’s subsidiary, American Income Life Insurance Company, are affected, the company claims in a new report it made to the SEC today. But as the investigation goes on, this figure might rise.
According to Globe Life, the hackers who carried out the attack also tried to coerce the business into paying a ransom to keep the stolen information private.
The threat actor provided the company with data samples that seem to be connected to American Income Life Insurance Company, one of its subsidiaries.
“Globe Life Inc. recently received communications from an unknown threat actor seeking to extort money from the Company in exchange for not disclosing certain information held and used by the Company and its independent agents,” reads the Thursday morning SEC filing.
“Based on the Company’s investigation to date, which remains ongoing, the Company believes that information relayed to the Company by the threat actor may relate to certain customers and customer leads that can be traced to the Company’s subsidiary, American Income Life Insurance Company.”
Full names, email addresses, phone numbers, postal addresses, Social Security numbers, health-related data, and policy information are among the various data categories that the thieves have taken, and they differ depending on the individual.
Additionally, Global Life has said that there has been no data encryption or file lock on the company’s systems because the extortion effort does not utilise ransomware.
When it comes to the incident’s financial impact, Global Life does not currently anticipate that it will have a significant effect on its financials or business operations.
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