Insurance Europe has published its response to a consultation by the EC on the Package Travel Directive (PTD).
The PTD as it currently stands ensures the right level of consumer protection, and neither changes to the present framework nor an extension of its scope are required. The present regime provides for an appropriate level of implementation flexibility, allowing insurers to continue to cater to ever-changing consumer demands and market trends. In the view of insurers, the PTD rules on insolvency and current insolvency protection systems are also fit for purpose because they ensure consumers are protected in cases where a travel operator goes bankrupt. Extending the PTD’s scope to vouchers and refunds or setting a new funding mechanism is therefore not needed.