Builders Mutual Data Breach Settlement: $1.475M

Individuals whose personal information, including Social Security numbers, health data, and insurance information, was compromised during the Builders Mutual data breach in December 2022.

Documentation required for reimbursement claims includes:

• Receipts
• Invoices
• Tax documents
• Account statements
• Financial documents
• IRS letters
• Credit reports

Builders Mutual Insurance Co., a provider of insurance coverage for contractors, builders, and similar businesses, has agreed to a $1.475 million settlement to resolve claims that it failed to adequately protect sensitive personal information during a December 2022 data breach.

Plaintiffs allege that Builders Mutual failed to implement sufficient cybersecurity measures, leaving sensitive data vulnerable to unauthorized access. The breach reportedly compromised information such as names, Social Security numbers, health details, insurance data, and other personal information.

Builders Mutual denies wrongdoing but has agreed to the settlement to resolve the allegations.

Compensation Details

Eligible class members can choose between the following benefits:

1. Credit Monitoring Services:

   • Three years of one-bureau credit monitoring, including:
     • Dark web monitoring
     • Real-time inquiry alerts
     • $1 million in identity theft insurance

2. Reimbursement for Documented Losses:

   • Up to $10,000 for unreimbursed fraud or identity theft losses, professional fees, credit expenses, and other related costs.

3. Lost Time Compensation:

   • Up to six hours of lost time at $25 per hour, totaling $150.

4. Cash Payment Option:

   • Estimated payment of $100 for class members who opt for cash instead of credit monitoring or reimbursement. This amount may increase or decrease depending on the number of claims filed.

Submit a valid claim form with supporting documentation by Jan. 8, 2025, to receive settlement benefits.