CLOVER HEALTH INVESTMENTS, CORP. /DE

Clover Health says social engineering compromised three employee accounts with access to member PII and PHI, although claims and corporate financial systems were not accessed. Four putative class actions followed, and Clover says it cannot yet reasonably estimate the possible loss or range of loss. Three identities were enough to create a regulated-data event and litigation exposure; that is the problem with treating identity as proof of trust instead of something that has to be continuously verified.