15 October 2009

TTA: We'll continue to offer cheaper protection

Travel Trust Association director Gary Lewis has told members that it will continue to offer them the most viable form of financial protection in the future.

It emerged yesterday, in the court case between the Civil Aviation Authority and Travel Republic, that the TTA’s T-Atol agreement with the CAA was illegal. The T-Atol holder puts all customers' money into its trust account and the TTA gives the financial guarantee to the customer.

The agreement ended in May and a new contract is being drawn up between the CAA/Air Travel Trust, which may not be concluded until the outcome of the court case is known. In the meantime, TTA members and their customers are financially protected.

Lewis said that in the future, members would continue to find it cheaper to gain protection with the TTA, rather than obtaining an ATOL direct from the CAA.

"The T-Atol will be a solution for businesses that are currently dynamically packaging," said Lewis.

"There will be a benefit to members because they won’t need their own bond and there will be no net-free asset requirement."

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Your Comments (3)

TTA T-ATOL the full facts?

It would be great if readers refrained from commenting on the TTA without knowledge of the full facts. If the CAA accepted T-Atol licence monies from these TTA members then some form of contract is valid. What the hell it is exactly, what repatriation or holiday bookings it was actually securing or not is what the CAA first, and the TTA second should really have to explain. As to letting the market forces be regulated by Insurers and/or Risk management companies, well that is exactly what the TTA is supposed to be doing, contrary to ABTA and the CAA who have been overtaken by new consumer holiday travel realities.

By Helder Lemos, Sunday, October 18, 2009
Tta T atol what a joke

This ended in MAY - they the TTA never told anyone - and have more than likely caused members to trade illegally. What a complete farce they really are...

By Kev james, Thursday, October 15, 2009
Cashflow

Not a bad deal if you don't mind no cashflow for months on end. Another useless idea that needs scrapping. The travel 'protection' market needs a complete overhaul. I bet the TTA don't go announcing that their 'protection' was illegal!?!?! Now, not only are consumers confused but so is the industry with what is actually legitimate cover and what is not. The only way to level the field in this market is to open it to market forces. Get rid of Quangos and semi state organisations like CAA and ABTA and bring in civil insurance companies. The market would then choose and set prices for protection and consumers would effectively have choice. Either buy insurance or don't. Simple.

By Andy Parr, Thursday, October 15, 2009