The new program is designed particularly for small and medium sized travel agencies, which were hardly hit by the COVID travel restrictions and which suffered a significant decrease in sales. Thus, it makes them difficult to meet their obligations, including the legal obligation to have insurance against bankruptcy. ČMZRB will issue guarantees for one calendar year and the guarantee will cover up to 75% of the travel agencies´ co-participation on the compulsory insurance. However, the guarantee is limited both in relative and absolute terms: it can cover 30% of the insurance indemnity limit and CZK 4 million (EUR 152.000) at maximum.
The programme was discussed with the Association of Czech Travel Agencies, the Czech Tourism Union as well as the Czech Insurance Association. The program´s budget is CZK 300m and we expect that more than 90% of travel agencies operating on the Czech market will be eligible for support from the program.