The European Commission authorised, on Monday 6 February, a €1.5 billion French scheme to support insurers that cover travel organisers’ insolvency.
The scheme aims at ensuring an adequate insolvency insurance that is sufficient to: - refund travellers for any payment for services that were not provided because of the organiser's insolvency; - finance their eventual repatriation. This protection for travellers is provided for in the EU Package Travel Directive.
Insurers will transfer...