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05 · Security

Insolvency protection

In Austria there is no Sicherungsschein of the kind used in Germany. We are nevertheless subject to the European package travel regulation in Austria as well. Under those EU package travel rules (Articles 17 and 19) there is a legal duty to take out insurance or to deposit a bank guarantee which, if the tour operator becomes insolvent, covers the traveller's loss of a deposit or the cost of returning from the holiday destination because of the insolvency.

As a tour operator we must be registered in the legally required operator register (GISA). That registration confirms that we have taken out insolvency cover as required by law. The ministry checks this insurance every year.

Details of the authorisation to provide travel services and of the insolvency cover taken out by Silvertip Tours GmbH are on https://www.gisa.gv.at/abfrage under GISA number 21324567 (under SEARCH FOR A TRADE).

Information on package travel insurance under Package Travel Directive (EU) 2015/2302

Operator: SILVERTIP TOURS GMBH, registration number 2015/0010 in the operator register of the Federal Ministry of Economy, Family and Youth. Under Package Travel Directive (EU) 2015/2302, customer funds for package holidays of the operator SILVERTIP TOURS GMBH are protected.

The insurer ensures, for the travel-service provider named above and towards travellers, that the following are refunded:

  • payments already made (deposits and final payments), where the travel services are not provided in full or in part because of the insolvency of the travel-service provider, or where the service provider demands payment from the traveller,

  • the necessary cost of repatriation and, if required, the cost of accommodation before repatriation that arose because of the insolvency of the tour operator or — where that party is responsible for the carriage of passengers — of the organiser of linked travel arrangements, and

  • where applicable, the necessary cost of continuing the package holiday or the linked travel arrangement that was arranged.

The guarantor or insurer is Cover Direct Versicherungsmakler und Werbeagentur Ges.m.b.H., Hietzinger Hauptstraße 35/DG, 1130 Vienna.

All claims must be registered, or they are lost, within 8 weeks of an insolvency with the administrator:

Cover Direct Versicherungsmakler und Werbeagentur Ges.m.b.H.

Hietzinger Hauptstraße 35/DG

1130 Vienna

+43 1 969 04 40