If you were one of those hit by the intrusion, don’t expect a big payout. Plenty of others will be getting their cuts first. According to the terms of the settlement, a full third of the package ($37,950,000) has been earmarked to cover attorney fees.
An additional $17m will be paid out to Experian, who is handling the credit and identity monitoring services for victims. Any taxes the government levies on the $115m payout will also be deducted from the fund itself.
After all that, people affected will be able to fill out the necessary forms to claim a share of the settlement, including coverage of out-of-pocket expenses they have incurred from the breach (but only up to $15m – beyond that no more out-of-pocket claims will be accepted).
Source: Anthem to shell out $115m in largest-ever data theft settlement
The amount of money going to the lawyers and experian beggars belief! There is no way this can have been possible within an in any way sane hourly fee. The fact that almost none goes to the 78.8 million victims shows you the law is self serving and has nothing to do with justice.
Robin Edgar
Organisational Structures | Technology and Science | Military, IT and Lifestyle consultancy | Social, Broadcast & Cross Media | Flying aircraft