Travel Agencies Insurance – The case of British operator Thomas Cook
Primăriile au un rol important în popularizarea asigurărilor obligatorii pentru locuinţe
noiembrie 3, 2019
Un nou competitor pe piața brokerajului corporate: Obsidian Broker de Asigurare-Reasigurare
ianuarie 21, 2020

The Bankruptcy of British operator Thomas Cook triggered a tsunami on the tourism market and the press from around the world has picked up the news story.


The British operator Thomas Cook has, until recently, been the oldest tourism company in the world. On September 23, the company filed for bankruptcy due to inability to raise the necessary funds for the operational costs, given that the debts exceeded 1.7 billion pounds.


Analysts rushed to analyse this failure and discovered many operating irregularities. Some analyst were quick to condemn the company for the lack of adaptation to the new behavioural changes in the market and to the new technologies.

The effects of bankruptcy were huge. At the time of the announcement of bankruptcy, no less than 600,000 tourists from around the world were trapped in the holidays organised by Thomas Cook and many hoteliers had massive losses.


The bankruptcy of Thomas Cook is just the latest event of its kind and probably the most important of the last period but unfortunately, so common in this industry.


And this time there is talk of taking risks and insuring companies affected by the bankruptcy of tourism operators through specific insurance solutions.


Check out our special products dedicated to the travel agencies and hospitality industry.