Insolvency insurance for tour operators
Insolvency insurance for tour operators (also known as travel price insurance) is an insurance policy that protects travelers against financial losses if a tour operator becomes insolvent.
Security for your customers
Insolvency insurance for tour operators - what is it?
As a tour operator, you are faced with the challenge of offering your customers financial security. In the event of insolvency, this cannot be guaranteed. Insolvency insurance for tour operators is therefore essential. It protects travelers from financial losses in the event of company insolvency and ensures the reimbursement of amounts already paid as well as repatriation in the event of an emergency. Required by law in many countries, it strengthens confidence in the travel industry and ensures the stability of your company.
Facts & Figures
FAQ on insolvency insurance for tour operators
We have summarized the most frequently asked questions about insolvency insurance for tour operators in our FAQ. Our experts will also be happy to provide you with individual advice.
It offers customers security and protects them from losing their money or being stranded abroad if the tour operator becomes insolvent.
Yes, according to the EU Package Travel Directive and the corresponding national regulations, such as the German Civil Code (BGB), tour operators are obliged to take out insolvency insurance to protect customers' money.
The legal obligation was introduced to strengthen consumer protection and ensure that travelers are not left with their costs or stranded abroad in the event of a tour operator's insolvency.
The organizer receives a security certificate, which he must hand over to the customer. This certificate confirms the existing insurance cover and contains important information about the insurance company and contact details in the event of insolvency.
The organizer violates legal regulations and can be prosecuted. In this case, customers may have no protection and could lose their money. Customers should always ensure that they receive a security certificate.
Customers should check the insurance certificate and contact the insurance company stated there immediately to assert their claims. It is important to keep all relevant documents, such as booking confirmations and payment receipts, to hand.
Insolvency insurance protects against financial losses due to the insolvency of the tour operator. Travel cancellation insurance covers cancellation costs if the traveler is unable to travel for certain reasons (e.g. illness, accident).
Customers should request the insurance certificate when booking the trip and check the details on it. They can also contact the relevant authorities or consumer advice centers to find out whether the tour operator is properly insured.
Yes, while the basic principles are laid down by the EU Package Travel Directive, the specific requirements and regulations may vary from one EU Member State to another. It is advisable to inform yourself about the respective national regulations.
Further insurance solutions
In addition to insolvency insurance for tour operators, we also offer numerous other insurance solutions that may be of interest to you.
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