Payment processor held back cash to cover uninsured risks
Credit card payment processor E-Clear held more than £35m of failed airline Globespan’s cash because the airline did not have business risk insurance. It went bust owing just £5m, the Times reports.
The administrator, Bruce Cartwright, said that E-Clear had been entitled to withhold around £15m to cover its exposure.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
