This insurance provides a required guarantee for the travels organised by the insured in the event of its insolvency and for the purpose of indemnifying the traveller for the damage occurred due to non-fulfilment, partial fulfilment, or undue fulfilment of the contractual obligations.
With this insurance, a tourist travel organiser (insured) ensures the guarantee of the insurer to, under the travel guarantee, indemnify all the insured’s valid commitments to the insurance beneficiaries which are attributable to the insured’s failure to reimburse the costs of emergency accommodation, meals, and return of travellers from the travel to the place of departure at home or abroad, due to insolvency, as well as other claims of the travellers that have remained unsettled due to such insolvency, as follows:
– paid up funds of a traveller according to the tourist travel contract, in line with the general travel conditions and travel itinerary that the travel organizer failed to execute;
– paid up funds of a traveller, in case of travel cancellation by the traveller, in line with the general travel conditions and travel itinerary;
– difference between the funds paid up under the tourist travel contract and funds reduced in proportion to the non-provision or incomplete provision of the services included in the travel itinerary.
This insurance also covers the liability of the insured, as a tourist travel organiser, for the losses caused to a traveller by non-fulfilment, partial fulfilment or undue fulfilment of the contractual obligations stipulated in the general terms and conditions and travel itinerary, namely the losses caused by:
– unrealised travels,
– non-performance or partial performance of services included in the general terms and conditions and itinerary.
The sum insured is the upper limit of the Insurer’s liability for any one occurrence and in the aggregate for the insurance period, and is stipulated under the Law on Tourism, and other regulations. The sum insured is exhaustible, namely, it decreases with the amount of each individually paid insurance indemnity. Upon the exhaustion of the entire sum insured, the insurance is no longer effective.
The insurer will indemnify the insurance beneficiary against any loss the insurance beneficiary sustains due to the occurrence of the event insured against, in the amount that is equal to the actual amount of claims of the users of travel guarantees up to the agreed sum insured. When deciding upon the indemnity amount that the insurer is obliged to pay to the insurance beneficiary, all payments that the insured or other persons on the insured’s behalf effected to the insurance beneficiary will be deducted first. Exceptionally, the actual amount of claim per travel guarantee user may be proportionally lowered in the event that the amount of claims of all guarantee users exceeds the agreed cover limit.
For more detailed information in connection with this insurance please call the contact telephones of our branch offices or points of sale.
This text is for information only. More details and a proposal tailored to your needs are available at any point of sale of Dunav Insurance Company.