Colonnade Insurance has started paying compensation to victims of the Unitravel case

The compensation payments were initiated following the decision of the Budapest Government Office on July 10, 2025, which declared Unitravel Kft. officially insolvent.

The payments apply to claims that were received by the insurer by August 31, 2025, and contain the necessary documentation in full. Colonnade will notify the affected clients by e-mail about the payment of compensation. The insurer will make the payments in accordance with the applicable laws and the terms of the financial security, it was announced.

As an alternative solution, customers were also given the opportunity to choose a new trip from the IBUSZ Travel Agency’s offer up to the amount previously paid. Many passengers took advantage of this option, many of whom have already returned home from their vacations, they wrote.

At the end of August, the insurance company informed that almost 800 people had reported their claims so far, 155 of whom chose the travel option provided with the assistance of IBUSZ Travel Agencies Ltd.

On July 7 this year, the Unitravel travel agency informed passengers on its website that it had gone bankrupt and could not fulfill its commitments, but that passengers abroad would be able to return home. The main reason for the bankruptcy, according to the company, is the state of the tourism market, where some new foreign companies came to Hungary with unlimited money and started to conquer the market by offering incredibly low prices and very aggressive marketing, making it almost impossible for traditional Hungarian companies – including them – to survive – they said in their statement at the time.

They wrote that the new market player came to Hungary a few years ago and immediately began aggressive expansion. “Our goal is to kill Hungarian companies and become monopolists in the Hungarian market,” they said.