Abta will reconvene focus groups on financial protection following the publication of the CAA’s Atol Reform document and request for information. Abta’s groups comprise industry representatives plus those from main financial services sectors, including banks, merchant acquirers, bond obligors and financial failure insurance providers. 

The groups originally met last summer to exchange views on current financial protection arrangements and options under the CAA’s Atol Reform consultation.

Abta said it was right the CAA had provided its latest thinking and invited views before firm proposals are developed, “particularly as the first-stage consultation occurred at the height of Covid-related disruption within the industry”.

Mark Tanzer, Abta chief executive, said: “We’re pleased to see the CAA publish this update on Atol reform. It has been much-anticipated, and today’s development is the next step in reaching clarity about future regulations and requirements.

“We’ll be consulting with our members to get their insight, and also bringing together representatives from the wider financial protection landscape in February. We’d really encourage members to engage with our process so we can provide an informed and constructive response to influence the CAA’s decisions.”