Compulsory insurance of tourists is not interesting for the Georgian insurance industry

The introduction of compulsory insurance for foreign tourists is not interesting for the Georgian insurance industry, because according to the current scheme, the largest part of foreign citizens will buy packages not from Georgian, but from their own country's insurance companies. Devi Khechinashvili, president of the Georgian Insurance Association, announced this.

According to the new regulation, a tourist must have health and accident insurance when entering Georgia. The introduction of compulsory insurance for incoming visitors is prescribed by the law on tourism, and the scheme and conditions of the insurance should be defined by the government decree.

Until now, foreign visitors voluntarily purchased insurance policies upon entering Georgia.

The president of the insurance association says that the introduction of mandatory insurance is already reflected in the law on tourism. Besides, according to Khechinashvili, it is known that any company in the world can sell these packages.

"Accordingly, you will most likely be able to sell it." n companies in the countries from which tourists will travel. Therefore, unfortunately, there is little interest in the Georgian insurance industry here," Khechinashvili noted, adding that this is not a small segment and its annual turnover would be more than 100 million per year, although the government decided to open the door to everyone. As a result, packages will be sold by companies operating in the countries where the tourist comes from. That is, the model that exists in Georgia has been implemented, when a tourist leaving the country is insured by Georgian insurance companies. buys

According to Khechinashvili, there will probably be a part of tourists who do not have insurance, and it is on this segment that Georgian companies will be able to sell packages across the border, although this will not be a large number, and therefore this change will not bring significant income to Georgian companies.

Devi Khechinashvili also says that the minimum limit of the mentioned package is 30 thousand GEL. However, how will tourists be controlled whether or not they have insurance? According to him, this is unknown.

We remind you that from January 1, 2026, insurance becomes mandatory for citizens of foreign countries entering Georgia.

jandacva.ge