Zurich Fined For Customer Data Loss

Filed in Discussion on Aug.24, 2010 By Keith Lunt

It is reported that the Financial Services Authority have fined Zurich Insurance a record £2.27m after it lost the personal details of 46,000 of its customers.

This is believed to be the highest fine ever levied on a single firm for failing to protect the security of its data.

The policy holder data, which can include sensitive details such as bank accounts and credit card information, went missing 2 years ago, in August 2008. However, Zurich itself did not realise the loss for another year, which is when it made the customers aware of the loss.

The data was being transported to a data storage centre in South Africa when it went missing.