Associations of travel industry professionals offer to insure tourist risks

In Belarus, in the near future, a new class of insurance can be introduced into practice – insurance of travel risks or tourist insurance. Republican associations of travel industry professionals put forward relevant proposals.

In particular, during the March meeting of the Board of the Republican Union of Tourism Organizations (RUTO), in the course of the consideration of proposals to amend the legislation on tourism, it was noted that the introduction of a new class of insurance into the practice was already discussed during meetings of the Chairman of the RUTO Council Ivan Chura with Belgosstrakh and Minsport management.

  • Meanwhile there are several variants of the name of this class of insurance – insurance of travel risks or insurance against non-performance of a travel services agreement. The point is that the Belarusian tourist and the Belarusian tourist industry as a whole should be insured in case of such troubles that the market experienced in the summer of 2018, when the operator Natalie Tours, who had a representative office in our country, went bankrupt.

The travel industry experts have prepared a letter with their proposals, which will be sent to the Ministry of Finance. If the respective norm is adopted, then the insurance policy will be developed by insurers together with the Ministry of Finance. Relevant issues of industry development were discussed at the meeting of the Republican Union of Tourism Industry (RUTI).

“In the context of upcoming changes to the law “On Tourism ”, the proposals of members of the union were discussed for subsequent submission to the meeting of the working group in the Ministry of Sport and Tourism,” the RUTI specified. – Following the discussion, it was resolved to consider the introduction of  tourist risk insurance institution. A similar idea was previously discussed at a joint meeting of the RUTO and RUTI representatives. In addition, as an alternative, the RUTI meeting decided to hold a working meeting with representatives of banks to discuss possible instruments for structuring the tourism market.

Experts estimate: last year there were 850 thousand organized tourists in Belarus; if each tour will be accompanied by insurance worth $ 5, the insurers will receive more than four million dollars a year and will be able to indemnify the tourists for losses in case of the operator’s bankruptcy.

Our Partners