Why did I receive this email?
The COVID-19 pandemic caused widespread disruption to domestic and international travel. This included border closures and Do Not Travel directives from governments that prevented travellers from embarking on trips they had planned. These disruptions could have meant that you did not require coverage under the travel insurance policy you purchased for part or all of your travel.
Members who purchased a travel insurance product distributed by RAC, but were unable to travel due to a travel ban imposed by the Australian Government or border closures by State or Territory Governments, may be eligible for a full or partial refund of their premium. This is in line with expectations issued by the Australian Securities and Investments Commission (ASIC).
RAC and Tokio Marine encourage all customers who purchased a travel policy that included coverage during a travel ban period and may not have received the benefit of the policy, to check their eligibility for a premium refund.
Who is Tokio Marine and why are they involved in this process?
RAC Travel insurance is issued by Tokio Marine & Nichido Fire Insurance Co. Ltd (Tokio Marine) ABN 80 000 438 291, AFSL 246548
Tokio Marine underwrites RAC’s Travel Insurance and provides the global emergency assistance and claims handling services offered in our policies and as detailed in the accompanying PDS. Tokio Marine will be managing the refunds process in their system and processing any refunds to RAC members.
Am I eligible for a refund?
To find out if you are eligible for a refund:
- Click the link in the email you were sent to take you to the fully secured refund calculation portal where you will be prompted to complete an identification check.
- Answer a series of questions to determine if you are eligible for a refund; and
- If you are eligible for any kind of refund, you will be advised on the portal and requested to provide your bank details so that payment can be processed (you will need your BSB and Account Number) within 3-6 weeks.
Frequently Asked Questions
This offer is only available if you purchased a RAC Travel Insurance product underwritten by Tokio Marine (RAC Travel Insurance Policy) and were unable to travel due to your travel dates falling into the international ‘do not travel ban’ period, issued by the Australian government, or for domestic border closures imposed by state or territory governments.
If you have not been prevented from travelling due to an Australian government issued travel ban, you will not be entitled to a refund as you would have had the benefit of the travel policy, subject to terms and conditions.
If you have made a claim under your RAC Travel Insurance Policy and have been successful, you will not be entitled to a refund.
If you intend to make a claim under your RAC Travel Insurance Policy, you will not be entitled to a refund unless it is determined that your policy was not effective on the basis of the travel ban. In other words, if you have a claim made on a valid policy in operation, you should not apply for a premium refund as you had the benefit of the policy.
The amount of your refund will be calculated based on the duration for which you did not have the benefit of your RAC Travel Insurance Policy via the eligibility question set. If you have any queries or concerns with your assessment, please email us at TravelInsurance@rac.com.au and we will forward your questions to Tokio Marine for response.
Payments will be processed in up to 8 weeks where possible of you completing the refund request and will be deposited into your nominated bank account. Your bank statement will show the deposit from Tokio Marine.