Travel insurer, TIC, has made amendments to its Travel Supplier Insolvency (TSI) cover, pulling cover for Air Mauritius and Virgin Australia.
“All travel policies purchased and issued on or after April 23, will no longer have TSI cover relating to Air Mauritius and Virgin Australia,” the insurer said in a statement.
This is following on the news that both airlines have been placed in administration. “The current operating environment places both airlines at heightened risk of insolvency and in light of the current developments we deem it prudent to manage our risk,” says Jason Veitch, head of travel insurance. “We trust that both airlines will resolve their liquidity issues and come out of administration as soon as possible.”
TIC has also amended its policy regarding SAA tickers. “With effect from April 21, the Travel Supplier Insolvency cover relating to SAA will only be valid if the travel insurance policy is purchased and issued within 48 hours of the purchase of SAA airline tickets, in full or in part.
“Should the above terms and conditions not be met, there will be no benefit for Travel Supplier Insolvency for SAA,” the statement said.
