Deregulation reached tourist companies. The provisions on insolvency were changed

On Tuesday, the government adopted a draft law enabling tourism organizers simpler access to insurance and bank guarantees and sureties – said the Chancellery of the Prime Minister on Tuesday.

The Council of Ministers adopted a draft amendment to the Act on tourist events and related tourist services and some other acts submitted by the Minister of Sport and Tourism.

The project is deregulating and is a response to problems reported by entrepreneurs in recent years, including In connection with the Covid-19 pandemic. The regulations – as indicated in the announcement – provide for simpler access to insurance and bank guarantees as well as guarantees for tourism organizers. “It is about facilitating the functioning of tourist companies that may encounter difficulties in acquiring the required security in the event of insolvency,” it was explained.

The designed regulations introduce, among others greater flexibility when it comes to meeting the requirements of the minimum guarantee sum, and also allow the company to conclude several guarantee contracts (banking or insurance), whose total value will meet the requirement of the minimum guarantee sum. Currently, this is only possible with one contract with one guarantee. In addition, tourism organizers will be required to precisely inform travelers about all guarantee contracts and the rules for pursuing claims.

The regulations also provide for the introduction of a unified method of conducting a list of contracts for tourist events and related tourist services in the ICT system of the Insurance Guarantee Fund (UFG) or through it.

New solutions are to come into force on January 1, 2026. (PAP)

ewes/ drag/