§ Mr. HurstTo ask the Chancellor of the Exchequer what plans he has to review the operation of the Troika excess premium scheme for airport insurance. [36865]
§ Mr. Andrew SmithThe Troika scheme, which provides temporary replacement third party insurance for aviation terrorist risks, charges premiums in accordance with European Commission guidelines. The guidelines are reviewed at monthly meetings of a European Commission ad hoc group on the market for aviation insurance. The guidelines have set premiums for insurance for airports under member state schemes at 33 per cent. of the premium charged under the primary policy to which insurance premium tax (IPT) applies.
At the last ad hoc group meeting on 15 February, a decision was made not to change the guidelines, so the premiums charged to airports remain unchanged.