Franklin Mutual Insurance Data Breach

Franklin Mutual Insurance (FMI) is a long-time insurance provider to companies in New Jersey. They are a private solution that often emphasizes their commitments to policyholders over stockholders and investors. Despite their devotion to policyholders, members may be in for a rude awakening; FMI has announced a ransomware data breach.

What Was the Breach?

• Full Name
• Social Security Number

How Did the Breach Occur?

According to the breach notice supplied to the Maine Attorney General’s office, the event was ransomware. The notice states an unauthorized party “remotely accessed” personal information stored on an FMI computer system. After this, the assailants presumably ransomed the data, resulting in the information appearing on the assailant’s website.

When Did This Breach Occur?

According to the Maine filing, the breach purportedly happened on or around March 11th, 2023; FMI also discovered the event that same day. After discovery, FMI immediately took steps to expel the unauthorized party and began creating security enhancements. Individuals who may have had information exposed in the breach will receive notice in the coming days.

Who Does the Breach Impact?

The ransom attack presumably impacts FMI policyholders. Maine’s filing suggests 4,500 people may feel the impact, but most can immediately mitigate future threats by taking defensive action.

How Many Files Does the Breach Affect?

Nothing is public regarding how many files the breach may have impacted. Further, given the multi-month-long investigations before the consumer notices went out, it is unlikely that more information will appear. The only course of action for FMI policyholders is hiring identity monitoring services and considering new accounts.