News and Analysis

Companies dealing with health data are facing more cyberattacks resulting in costly litigation, finds a Bloomberg Law analysis. This year’s monthly average of new class actions over health data breaches is nearly double the rate from 2022, and the lawsuits often seek civil damages in millions of dollars. The health industry, one of the most targeted by cyberattackers, reportedly saw the biggest increase in ransom payment last year, at over $1.5 million. The spike in health data breach filings is attributed to factors such as increased ransomware attacks, public notifications, and growing consumer awareness of privacy issues.