Travel Insurance Refund Scheme FAQ's

Who is Tokio Marine and why are they involved in this process?

Operational Excellence Insurance Travel insurance is issued by Tokio Marine & Nichido Fire Insurance Co. Ltd (Tokio Marine) ABN 80 000 438 291, AFSL 246548

Tokio Marine underwrites Operational Excellence Insurance’s Travel Insurance and provides the global emergency medical assistance and claims handling services offered in our policies and as detailed in the Product Disclosure Statement (PDS) that was sent to you when you purchased your policy. Tokio Marine will be managing the refunds process in their system and processing the applicable refunds to Operational Excellence Insurance customers. 

Am I eligible for a refund?

To find out if you are eligible for a refund:

1. Click the link in the email you were sent, which will take you to the fully secured refund calculation portal where you will be prompted to complete an identification check. This link will only be available from your email and is unique to you. Please do not forward this to anyone. If you had multiple policies impacted, you will receive a separate email for each policy.
2. Answer a series of questions to determine if you are eligible for a refund; and
3. If you are eligible for a full or partial refund, this will be displayed on the portal.  
4. You will then be requested to provide your bank details so that payment can be processed (you will need your BSB and Account Number) within 3-6 weeks. Any information you provide will be held in accordance with the Tokio Marine privacy policy.
 

Frequently Asked Questions

How do I know if I am eligible? 

This offer is only available if you purchased a Operational Excellence Insurance Travel Insurance product underwritten by Tokio Marine (Operational Excellence Insurance 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. 

What If I have travelled? 

If you have not been prevented from travelling due to an Australian government issued travel ban, you will not be entitled a refund as you would have had the benefit of the travel policy, subject to terms and conditions. 

I already made a claim and have been successful, can I still apply for a refund?

If you have made a claim under your Operational Excellence Insurance Travel Insurance Policy and have been successful, you will not be entitled to a refund. 

What if I need to make a claim under the Policy?

If you intend to make a claim under your Operational Excellence Insurance 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.

After the recent media alerts regarding cyber breaches, I am worried this might be a scam and I am concerned about providing my bank account details online. 

 We understand our customers' concerns during this time of heightened cyber awareness and want to reassure you that we have controls in place to prevent unauthorised access of our systems.

 Why can’t you issue the Operational Excellence Insurance Travel Insurance refund to my credit card?

Most of the policies that are eligible for a partial or full refund were purchased prior to 2020, so it is likely credit card details will have expired or changed. If the funds were to be deposited to a credit card, you may be charged a cash advance fee to withdraw them. By depositing into a bank account, you can choose the way in which you use these funds. For this reason, we have built our system to process the refund to your bank account. To ensure a smooth and efficient refund process, please nominate your bank account for the refund.

How is my refund calculated?

The amount of your refund will be calculated based on the travel bans that were in place and the duration for which you did not have the benefit of your Operational Excellence Insurance Travel Insurance Policy and determined via the eligibility question set. If you have any queries or concerns with your assessment, please email us at [email protected] and we will forward your questions to Tokio Marine for response. 

How long will the refund take? 

Payments will be processed as soon as possible however please allow in up to 8 weeks of you completing the refund request as we are contacting many customers during this process. The refund will be deposited into the bank account you nominated on the portal so please ensure the information you provide is correct. Your bank statement will show the deposit from Tokio Marine. 

I still have questions, who can I contact? 

If you still have questions, please contact our team by emailing [email protected] and we will reply as quickly as possible.