Insurance services business Universal Salvage has been fined £90,000 by the FSA for failing to notify the regulator about a major contract loss.
It is understood that Universal Salvage knew that it had lost a prestigious contract with Direct Line on 16 April 2002 but failed to announce the loss until 23 April.
Ex chief executive Martin Hynes was also fined £10,000.
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.
