A guarantee fund will protect the interests of tourists in the event of a tour operator's bankruptcy

The Ministry of Tourism has published for public discussion a draft for amendments to the Tourism Act, which introduce various protections for tourists on organized trips in the event of a tour operator's bankruptcy. The measures also include those stipulated in the European Directive on package travel and linked travel arrangements. The draft will further secure consumers of package travel services in the event of a tour operator's insolvency.

It is proposed that the Tourism Guarantee Fund be based on a three-pillar protection system – preventive, insurance or bank guarantee, and participation of tour operators in a guarantee fund.

Currently, in the event of bankruptcy, an insurance policy mandatory for tour operators comes into effect. However, according to industry estimates, insurance levels often cannot provide sufficient coverage to settle with all parties in the event of insolvency, said Dnevkik.