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Insurance Decisions For Safe Tourism

Author

Listed:
  • Stoyan Kirov

    (Varna University of Economics)

Abstract

Safe tourism must be a priority for each tour operator. This means choosing such insurance protection of travellers that would guarantee the quality of the tourist service. Insurance policies must be concluded at adequate coverage, they must have appropriate liability limits, must be easy to administer, etc. Regrettably, tour operators in Bulgaria rarely perform diagnostics of travel risks and recommend conventional insurance policies at minimum liability limits to their customers. This prevents the achievement of the most adequate insurance protection for travellers. Part of the blame in this respect goes also to local insurers, which sluggishly react to the dynamic tourist market and do not provide flexible terms in their travel insurance, including facilities for the absorption of insurance payments. In this context this article is an attempt at providing some guidelines and rules for the quality management of travel risks. The study offers practical advice for insuring health risks during travel, the professional liability of tour operators, compensating for the theft of luggage and valuables, the coverage of the cost of curtailed excursions, etc.

Suggested Citation

  • Stoyan Kirov, 2015. "Insurance Decisions For Safe Tourism," Business & Management Compass, University of Economics Varna, issue 4, pages 30-43.
    • Handle: RePEc:vrn:journl:y:2015:i:4:p:30-43
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    File URL: http://journal.ue-varna.bg/uploads/20160208020324_127581920856b8a02cad009.pdf
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    More about this item

    Keywords

    travel risks; tourist insurance; insurance decisions; safe tourism;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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