Local travel agency Terra Tourism has announced its partners and clients that it was no longer able to fulfil commitments and recommended them to address City Insurance for recovering due amounts.

Terra Tourism will file for insolvency, the agency also said, local Profit.ro reported.

The number of tourists affected by Terra Tourism insolvency is limited though, according to the National Association of Tourism Agencies (ANAT). All will receive compensations totaling up to USD 50,000, which is the insurance policy’s value. ANAT will also grant counselling to Terra Tourism clients.

ANAT submitted several proposals to the Tourism Ministry for making legislative changes aimed at guaranteeing tourist payments after tourism agencies enter insolvency. However, no agreement was reached.

editor@romania-insider.com