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TIC: Withdrawal of travel supplier insolvency cover on Air Mauritius and Virgin Australia (23 April 2020)

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TIC has reviewed its position on the Travel Supplier Insolvency (TSI) benefit for Air Mauritius and Virgin Australia.

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 for policies that are issued on or after 23 April 2020.

We trust that both airlines will resolve their liquidity issues and come out of administration as soon as possible. Find below a link to an endorsement to this effect on all new policies on TIC’s position on both airlines as well as updating its website.

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