On August 12, 2024, Lincoln National Life Insurance Company, also known as Lincoln Financial, reported a data breach to the Attorney General of Massachusetts. The notice indicated that unauthorized access had occurred, compromising sensitive personal information belonging to consumers. The breach specifically involved names and Social Security numbers, prompting Lincoln Financial to initiate a thorough investigation into the incident. Following their inquiry, the company began sending out data breach notification letters to individuals affected by the security breach, informing them about the compromised information.
While the details surrounding the cause of the data breach remain unclear, Lincoln Financial indicated in its filing that it had discovered the unauthorized access to personal information. The company promptly notified its Corporate Privacy Office and took immediate measures to mitigate the impact of the breach and enhance its security protocols to prevent future incidents. However, the notice provided limited information on the exact circumstances leading to the breach, leaving many questions unanswered.
The investigation revealed that an unauthorized party had accessed confidential consumer data, which Lincoln Financial subsequently reviewed to identify the specifics of the leaked information and the individuals impacted. The company has acknowledged that the breached information varies among individuals, but it is likely to include sensitive details such as names and Social Security numbers. This acknowledgment has raised concerns among consumers about the potential risks associated with the exposure of their personal data.
In response to the breach, Lincoln Financial has committed to keeping affected individuals informed about the situation. On August 12, 2024, the company sent out data breach letters to those impacted, detailing the information that was compromised. The Lincoln National Life Insurance Company operates as a subsidiary of Lincoln National Corporation and provides a variety of insurance and financial services. With over 11,000 employees and generating approximately $12 billion in annual revenue, the company plays a significant role in the insurance industry, making the security of its consumer data a critical concern.
Reference:
