Package holiday vacationers are to be protected in the future through their own travel insurance fund.

This emerges from the ministerial draft that is now available. The new regulation is intended to replace the previous protection provided by insurers and credit institutions. Insolvency protection is to be organized via a central travel price protection fund, which is subject to strict state supervision at least in the development phase, but which the travel industry itself as a GmbH can be responsible for. In addition, an advisory board made up of representatives from the federal government, the federal states, tourism and consumers should ensure that the respective interests are taken into account, expressly also those of small and medium-sized tour operators. The regulation should actually come into force in November 2020. But the Corona crisis slowed the responsible authorities. The draft that has now been submitted has been coordinated with the ministries for economics and finance, which are also involved, and the Federal Chancellery, how fvw.de reported. The target capital of the fund is set in the draft at 750 million euros, which must be reached by the end of 2026.