To ask the Secretary of State for Transport, what the levels of excess payments are on (a) insurance and (b) reinsurance policies taken out by the Civil Aviation Authority to cover payouts from the Air Travel Trust Fund.
7 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.