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Euroins Bulgaria will guarantee the vouchers for canceled trips of Bulgarian tour operators due to COVID-19

June 08, 2020

A new product of the insurer will provide additional protection to customers with deferred vacations

 

Euroins Bulgaria, part of Euroins Insurance Group AD (EIG), will offer new insurance product  to its tour operators, which will guarantee the vouchers issued by them for postponed trips and vacations. The new product ("Miscellaneous financial losses") is aimed at customers of tour operators with vouchers. The insurance product will provide them with protection that the insurer will pay compensation up to the amount paid by them if the trips are not made due to insolvency of the tour operator.

The coverage under the new insurance product will be provided upon concluding a contract for tourist service before the introduction of the state of emergency (13.03.2020) and will affect planned and unrealized trips in the period from 13.03.2020 to 31.12.2020 inclusive. Users must have accepted a voucher for a postponed trip with the right to use until 31.05.2022.

“With the new insurance product, Euroins Bulgaria continues to support its clients-tour operators and to fulfill its commitments under the insurance contracts concluded with them. The new product will allow consumers with vouchers to easily plan and realize their trips and vacations. Throughout the period of the state of emergency and the extraordinary epidemiological situation, we were in constant contact with our clients-tour operators. We have not terminated insurance contracts with them and in general we have not changed the tariffs under their contracts ", commented Rumyana Betova, Executive Director of Euroins Bulgaria

Euroins Bulgaria is among the leading companies in providing travel insurance on the Bulgarian market. The company has concluded tour operator liability insurance for the maximum insurance amount for the industry of BGN 1.4 million with the following major tour operators: Geographic World Ltd., Bohemia Ltd., Profi Tours Ltd. and Real Travel Ltd.The four companies are in good financial condition and with high liquidity, serving their customers regularly. Separately, the Tour Operator Liability insurances concluded by Euroins Bulgaria with the larger tour operators in the insurer's portfolio are reinsured, which is an additional guarantee for the protection of consumers' interests.

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