NU Online News Service, Aug. 24, 3:34 p.m. EDT

The United Kingdom Financial Services Authority (FSA) said it has fined Zurich Insurance plc’s UK branch (ZIP UK) over ?2.28 million ($3.52 million at current exchange rate) due to the loss of personal data for 46,000 customers in 2008.

The FSA said the data lost includes identity details, and in some cases bank account and credit card information, details about insured assets and security arrangements. “The loss could have led to serious financial detriment for customers and even exposed them to the risk of burglary,” the FSA said in a statement.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

Complex Claims & Litigation Forum 2023Event

Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.