Zurich Insurance fined £2.3m for losing client data

The failings came to light following the loss of 46,000 customers' personal details, including identity information, bank account and credit card information and details about insured assets and security arrangements. Zurich Insurance South Africa lost an unencrypted back-up tape during a routine transfer to a data storage centre but, as there were no proper reporting lines in place, Zurich UK did not learn of the incident until a year later. The FSA says customers could have been exposed to serious financial detriment and even exposed to the risk of burglary. However, it stresses Zur...