Backchat likes nothing more than his fish and chips wrapped in an old newspaper, so he wonders if his chums at Lloyd's broker Thompson Heath & Bond (THB) and insurer Ace Global Markets will be using a copy of Insurance Times for their metaphorical fish and chips.

The chips were certainly down for the pair when they received a £1,000 prize indemnity claim for a fly fishing competition they had insured.

The £1,000 cash prize was awarded in a charity fishing event staged for Macmillan Cancer Relief. Punter Norman Proudfoot outsmarted 240 other anglers to win the prize after landing the only trout in the water tagged with an exclusive microchip that bleeped under a special scanner.

It seemed to observers (and underwriters) that Proudfoot stood only a slim chance of catching the prize fish from the deep waters of a massive Scottish loch.

But Backchat's chums are always good sports and THB and underwriter Michael Rudd at Ace Global Markets are this week sending a cheque to cover the prize indemnity claim to Macmillan Cancer Relief. The fishing event raised more than £25,000 for the nursing angels.