Bankrupt DNA testing firm 23andMe reached a $16.5 million settlement with its cyber insurers for the benefit of data breach victims in exchange for releasing the insurers from any further liability.
The insurers—various underwriters at Lloyd’s, HCC Global, Allied World Specialty Insurance Co., and Landmark American Insurance Co.—will pay the remaining insurance value to the estate after deducting defense costs tied to a 2023 data breach, according to a Monday motion filed in the US Bankruptcy Court for the Eastern District of Missouri.
The insurers have so far approved payments of $8.5 million in legal costs to date, following more ...
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