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On January 18th 2021, the Minister of Industry and Trade introduced a new program. The guarantee schemes of the new program will help small and medium-sized travel agencies, in particular, to meet the legal obligation to insure against insolvency. The guarantee scheme of the COVID Travel Agency Guarantee program was discussed by the Ministry of Industry and Trade with the participation of the Ministry for Regional Development and the National Development Bank (NRB), among others, with the Association of Tour Operators and Travel Agents of the Czech Republic, the Czech Tourism Union and the Czech Insurance Association.
You can find more information below and as soon as there is more information about the program we will add it here.
Purpose/conditions for drawing:
- Eligible applicant: travel bureaus according to § 2 paragraph 1 of Act No. 159/1999 Coll. as well as travel agencies that were travel agents (held a concession that was not canceled, suspended or interrupted) until at least March 12th 2020
- Eligible expenditure: the participation in the financial statement required by the insurance company to conclude the insurance contract
The maximum amount of support: Up to 75% of the required travel agency co-participation up to a limit of 30% of the insurance indemnity (maximum sum insured), however, a maximum of CZK 4 million. The validity of the guarantee may exceed the agreed insurance period by a maximum of 6 months.
Method of applying: Applications can be sent via the NRB E-filing. The application will also include an insurance contract. If you are interested in the COVID Travel Agency Guarantee, we recommend that you first discuss the matter with your insurance company and find out what your insurance contract allows.