Air Travel Trust Fund: Insurance
(asked on 2nd October 2019) - View Source
Question to the Department for Transport:
To ask the Secretary of State for Transport, when he plans to publish the Air Travel Trust Fund’s insurance policies.
This question was answered on 8th October 2019
The Air Travel Trust Fund (ATT) is the primary source of funding when an ATOL holder fails. The ATT has in place insurance policies that provide the Trust with access to funds in the event of ATOL holder failure(s), where costs arising from refunds and repatriation exceed either £150 million, £70 million or £10 million in a policy year, depending on the size of the failed ATOL holder(s).
The specific terms of the policies are confidential between the ATT and its insurers.