After the turbulence of the Thomas Cook bankruptcy, package holidaymakers should be better protected against bankruptcies of tour operators. The new travel insurance fund has been taking care of the reimbursement of prepayments from customers and the repatriation of holidaymakers in the event of a bankruptcy of a travel agent since this Monday. “The fund gives travelers the security they need to be protected in the event of the insolvency of their provider,” said Thomas Schreiber, co-managing director of the German Travel Insurance Fund (DRSF). The fund is organized by the tourism industry and supervised by the Federal Ministry of Justice. Organizers are expected to pay in around 750 million euros by autumn 2027. During the development phase, the state supports the fund with a line of credit. The DRSF replaces protection through insurance or bank guarantees.
In the case of bankruptcy – fund to protect vacationers launched – economy
