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After cyber breach, Point32Health suffers financial losses

Posted on August 19, 2023 by Dissent

Jessica Bartlett reports:

A crippling cyber attack at the state’s second-largest insurer not only interrupted operations for months but also pummeled the insurer’s financials.

For the six months ending in June, Point32Health reported a $102.7 million operating loss on $4.8 billion in revenue. Those results compare to a $25.8 million operating loss on $4.9 billion in revenue in the same period the previous year. The most recent earnings capture nearly the full timespan of the ransomware attack and cyber security breach that hamstrung operations at one of Point32′s insurers, Harvard Pilgrim Health Care, from mid-April through much of July.

Read more at Boston Globe.

Category: Commentaries and AnalysesHealth DataMalwareU.S.

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