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Air Travel Trust Fund: Insurance

Question for Department for Transport

UIN 293741, tabled on 2 October 2019

To ask the Secretary of State for Transport, what the value is of the (a) insurance and (b) reinsurance that the Air Travel Trust Fund has that covered the collapse of Thomas Cook; and which insurance companies underwrite that insurance.

Answered on

8 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).

Cover is provided by a panel of insurers and the annual limit is £400 million. The specific terms of the policies are confidential between the ATT and its insurers.