SERENDIPITY Travel Bankruptcy Insurance
Bankruptcy Insurance protects clients of tour operators in situation when they are not able to meet their obligations due to insolvency. Pursuant to Act No. 159/1999 Coll., on certain business conditions in tourism, this insurance is mandatory for all travel agencies.
The bankruptcy insurance applies to the situations when the insolvent tour operator does not:
- Arrange transport of its clients from the foreign country back to the Czech Republic if it was included in the tour.
- Refund its clients with the deposit or full price of the tour that eventually has not been carried out.
- Refund its client with the difference between the full price of the tour and price of partially realized tour in case that it was carried out only partially.
Tour operators are obliged to hand over a confirmation about the insurance together with the travel contract to the clients. Such a confirmation should include identification of the insurance company, insurance terms and conditions and instructions on how to report an insured event.
We are insured by ÈPP Vienna Insurance Group: