Tourism Law in Europe
In accordance with the PTD, the insolvency protection has to cover the refund of all payments made by or on behalf of travellers if the services in question are not performed as a result of the insolvency of the organiser; the repatriation of travellers (insofar as the carriage of persons is included in the package travel contract); the refund of all payments received by facilitators of linked travel arrangements from travellers to the extent that a travel service which is part of connected travel services is not provided as a result of their insolvency, and the return journey if the facilitator of linked travel arrangements is responsible for the carriage; and where applicable, the necessary costs of continuing the package or the linked travel arrangement. Package organisers and traders facilitating linked travel arrangements are collectively referred to under the awkward term “ Reiseleistungsausübungsberechtigte ” (which means “traders that are authorised to provide travel services”) 38 . They can choose to provide insolvency protection either through an insurance policy, a bank guarantee or a guarantee from a public corporation. The sum insured must be at least 13000 Euro; or 18% of the annual turnover; or 50% of the turnover in the peak month, whichever is the highest 39 . For this purpose, the traders have to notify the authority of the intended turnover figures for the coming calendar year and its peak month or the two coming years and their respective peak months taking into regard the turnover figures of the actual year. The insurance contract must be governed by Austrian law and it must grant the traveller a direct claim against the insurer independent of the holding of the insurance certificate (policy). The contract period must be at least twelve months and the insurance cover 38 Sec. 3 Package Travel Regulation. 39 Sec. 4 para 1 Package Travel Regulation.
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