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From: security curmudgeon (jerichoattrition.org)
Date: Tue Aug 24 2010 - 13:51:23 CDT
24 August 2010 Last updated at 09:43 ET
Zurich Insurance fined £2.3m over customers' data loss
The UK operation of Zurich Insurance has been fined £2.27m by the
Financial Services Authority (FSA) for losing personal details of 46,000
It is the highest fine levied on a single firm for data security failings.
Margaret Cole, the FSA's director of enforcement and financial crime,
said: "Zurich UK let its customers down badly."
Stephen Lewis, chief executive of Zurich UK, said: "This incident was
The data on policyholders, including in some cases bank account and credit
card information, went missing in August 2008.
However, Zurich did not become aware of the loss until a year later, when
it then began notifying customers.
The information went missing during a routine transfer to a data storage
centre in South Africa.
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