Top travel insurer withdraws insolvency cover for SAA tickets

One of SA's top travel insurers, Travel Insurance Consultants , confirmed on Friday that it had withdrawn the insolvency cover benefit on all SAA tickets.

This comes as government officials from the Treasury and the department of public enterprises are meeting behind closed doors to discuss the future of the insolvent airline, which needs a government loan guarantee to continue trading. Without this SAA faces either liquidation or business rescue.ravel supplier insolvency covered the failure of an airline when it declared bankruptcy.

TIC clients who purchased insurance policies, which have the travel supplier insolvency benefit, before November 28 would be covered until they completed their travel journeys, the company said. Stark said FCTG would not stop customers from continuing to use SAA, and would allow them to book with the airline; however, it would “strongly advise” that alternative options are used until certainty regarding the airline’s long-term sustainability is obtained.

Source: Holiday News (holidaynews.net)

Not a good sign. Can we take insolvency insurance for the country as the cANCer party drags it down?

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