Insurance company Advant Insurance, which provides financial guarantees to 162 Russian tour operators, has lost its license.
As it became known, the regulator revoked the licenses of three insurers at once: Plato, Ural-Recept M, and Advant-Insurance due to voluntary refusals of organizations to carry out activities provided for by the license.
However, this time, the situation with tour operator license revocation was atypical. Back in early December, Advant-Insurance completed the transfer of its insurance portfolio to PARI.
"The insurance portfolio includes all insurance contracts in effect on the date of portfolio transfer, as well as incurred but unsettled losses under concluded contracts," PARI said in a statement.
It also notes that all questions related to accepted insurance contracts should now be addressed to the Company's office in Moscow.
"Since December 9, 2019 (the date of signing the insurance portfolio acceptance certificate), the Management Insurance Company has been fulfilling all obligations under the insurance contracts," PARI emphasized.
The revocation of Advant-Insurance's license will not affect any of the 162 tour operators.
Source: trn-news.ru