Easy Money: U-Haul Offers $100 Payments from $5M Data Breach Settlement

According to The Sun, Customers who used the national moving and storage company, U-Haul, in 2022 and 2023 may be eligible to receive up to $100 due to a recent data breach. To qualify for the cash payment, affected customers must submit a claim form.

Details of the Data Breach

According to the U-Haul data breach class action lawsuit, the company failed to adequately protect consumer information from two data breaches that occurred in 2022 and 2023. These cyberattacks allegedly compromised sensitive consumer data, including names and driver’s license numbers. Although U-Haul has not admitted to any wrongdoing, the company has agreed to pay $5.085 million to resolve the lawsuit.

Settlement Payment Information

Under the terms of the U-Haul settlement, class members can expect to receive a pro-rata monetary payment. These payments are estimated to be around $100 per claimant, although actual amounts may vary depending on the total number of valid claims submitted.

To be eligible for a direct payment, customers must have resided in California between November 5, 2021, and April 5, 2022, or around December 5, 2023, when the data breaches occurred. Additionally, individuals must have received a Notice of Recent Security Incident letter informing them of the breaches.

Also read: Double Payment Alert: Social Security Recipients to Get Extra Cash in November

Important Dates for Claimants

Eligible U-Haul customers only have a limited time to claim their payments. Class members must submit a valid claim form by October 15, 2024, to receive benefits from the settlement. A final approval hearing for the payout is scheduled for October 23, though it remains unclear when the payments will be disbursed to claimants. Officials have advised individuals participating in the settlement to “be patient” as they await their compensation.

The Growing Concern of Data Breaches

The U-Haul case highlights a broader trend in data security. According to the Harvard Business Review, data breaches surged last year, primarily due to the increased use of cloud configurations. It is estimated that over 60% of the world’s corporate data is stored in the cloud, and in 2023, more than 80% of data breaches involved data stored in cloud environments. Companies often unintentionally mismanage cloud security, leading to vulnerabilities such as excessively permissive cloud access, unrestricted ports, and the use of unsecured backups.