The German Travel Insurance Fund (DRSF) has started. According to the operating company, around 150 applications from tour operators have so far been approved. 95 percent of them would have received the required travel insurance. As it is said in a message from the DRSF, one is “in discussion with the other providers for a constructive interim solution”.
The DRSF covers all organizers with a turnover of ten million euros or more. Small organizers who are below this amount can voluntarily take out insurance. Over time, a fund capital of 750 million is to be built up. In the development phase, the DRSF has state guarantees. Those in charge of the DRSF expect that in 2027 the sum of 750 million will be reached.
Some organizers do not yet have a security certificate
At the DRV conference last weekend in Greece, managing director Thomas Schreiber also admitted that there were still some organizers who had to improve their applications. One is in talks with the state supervisory authority from the Federal Ministry of Justice and Consumer Protection. This must decide how to proceed with the affected providers and how they can still receive their security certificate.
For the fact that the application process did not start until the end of September via the DRSF website, most of the organizers managed the not entirely uncomplicated process, but said co-managing director Andreas Gent at the DRV conference.
Tough negotiations with the insurers
The two managing directors also talked about how tough the negotiations had been with the insurance companies that had previously been responsible for securing customer funds. An appropriate liability cut had to be negotiated here. Appropriate framework agreements have been signed with Hanse Merkur Versicherung, R + V Versicherung and Zurich Versicherung, and an agreement with Swiss Re is imminent, according to Gent.
Susanne Layh & Arne Huebner