We’ve recently completed
a pricing promise review
This has identified some discrepancies between the information provided to certain customers, and the way their insurance premium was calculated. For this, we’re very sorry and we’re providing refunds to affected customers.
What will happen next?
We will be in touch with affected customers over the coming months. If we find you have a current policy that is affected, or held an affected policy during the period 1 October 2015 to 29 April 2023, we’ll let you know.
Our communication will contain your Refund ID and will direct you to this page and our secure refund form where you can verify your contact details and either:
- Supply your preferred bank details for EFT refund; or
- Request a refund cheque payment to be sent to you.
If we request your payment details, please supply them through our secure refund form below.
Complete our refund form
If we’ve told you about a refund due to you, please provide your payment details through our secure refund form. This secure online process will take a few minutes to complete.
Before you start, you will need your Refund ID. We will also ask you a series of simple security questions to verify your identity.
Frequently Asked
Questions
Who is NM Insurance?
We are a general insurance underwriting agency that operates under a number of different brands to issue and administer certain insurance products under a binding authority from the relevant insurer.
Our trading brands include:
- Nautilus Marine Insurance
- National Motorcycle Insurance
- Kawasaki Insurances
- Suzuki Motorcycle Insurance
- Honda Motorcycle Insurance
- Australian Caravan Insurance
- Let’s Go Caravan Insurance
- Jayco Platinum Caravan Insurance
Why is NM Insurance issuing refunds?
We incorrectly calculated discounts for some insurance policies and want to put things right.
For some products, our policy documentation did not accurately describe how our no claims bonus discount scheme operated.
We did not always re-assess entitlement to boating experience discounts when certain Private Pleasure Craft and Personal Watercraft policies were renewed with us.
How do I contact NM Insurance?
Please contact our Pricing Promises Team between 9am-5pm, Monday to Friday:
Which insurer(s) does NM Insurance act for?
We issue and administer Private Pleasure Craft, Motorcycle and Caravan Insurance under a binding authority from Zurich Australian Insurance Limited (Zurich).
Between 1 October 2015 and 16 July 2020, we issued and administered these product lines under a binding authority from AIG Australia Limited (AIG).
What products are affected?
Certain insurance policies issued between 1 October 2015 and 29 April 2023 including under the following brands:
- Nautilus Marine Insurance
- Suzuki Marine Insurance
- National Motorcycle Insurance
- Kawasaki Insurances
- Suzuki Motorcycle Insurance
- Honda Motorcycle Insurance
We’ll contact you if you hold or have held an affected policy.
How will I know if I’ve held an affected insurance policy?
If we find you have a current policy that is affected, or held an affected policy during the period 1 October 2015 to 29 April 2023, we’ll be in touch in the coming months to let you know and arrange your refund.
To ensure we have accurate contact details, some customers may be contacted by letter, email and/or phone before refunds are processed.
Any correspondence from us about our pricing promises review will always direct you to this page where you can access our secure refund form, enabling you to provide us with information within a secure environment.
Does NM Insurance still have a no claims bonus or boating experience discount scheme?
No. These discount schemes have been discontinued.
What do I have to do?
We will be in touch with affected customers over the coming months.
If we find you have a current policy that is affected, or held an affected policy during the period 1 October 2015 to 29 April 2023, we’ll let you know.
Our communication will contain your Refund ID and will direct you to this page and our secure refund form where you can verify your contact details and either:
- Supply your preferred bank details for EFT refund, or
- Request a cheque payment to be sent to you.
If we request your payment details, please supply them through our secure refund form on this page.
When will NM Insurance contact affected customers?
We’re working through identifying all affected policies and will be in touch with current and former customers who are owed a refund as soon as we can over the coming months. Given the complexity of this process, the entire refund program will take some time to complete. Rest assured, we will be in touch if you are entitled to a refund.
How will I know if I’m entitled to a refund?
If you’re entitled to a refund, we will contact you as soon as we can over the coming months. Our communication will contain your Refund ID and will direct you to this page and our secure refund form where you can verify your contact details and either:
- Supply your preferred bank details for EFT refund, or
- Request a cheque payment to be sent to you.
How will I receive my refund?
Please look out for an email, letter or phone call from us. This will contain your Refund ID and will direct you to this page and our secure refund form where you can verify your contact details and either:
- Supply your preferred bank details for EFT refund; or
- Request a cheque payment to be sent to you.
If we request your payment details, please supply them through our secure refund form on this page.
What if I don’t provide my bank details?
If you are entitled to a refund, we will make multiple attempts to contact you using the current or last known contact details we have for you.
If you don’t respond to our communications by the time the refund process is finalised, we will either transfer your refund to a Government administered unclaimed money fund or pay it to a charity. Our final communication to you will remind you of this and tell you when we intend to do this. Despite this, you’ll remain eligible to claim it.
What if I don’t want my refund?
We’ll either lodge your refund with a relevant state, territory or Commonwealth unclaimed money regime, or pay it to a charity registered with the Australian Charities and Not-for-profits Commission. Despite this, you’ll remain eligible to claim it.
What if an insurance broker arranged my policy?
We will be in contact with your insurance broker, then communicate directly with you. This communication will contain a Refund ID and direct you to this page and our secure refund form.
How do I know if a communication from NM Insurance is genuine?
Any correspondence from us will always direct you to this page and our secure refund form. If you’re unsure whether a communication is from us, please do not provide your bank account details or click on any links or attachments. Instead, contact our Pricing Promises Team between 9am-5pm, Monday to Friday:
T: 1300 019 929
How is my refund calculated?
Your refund includes the premium we owe to you plus associated government charges and levies.
Your refund also includes interest calculated in accordance with the Insurance Contracts Act 1984 (Cth) and Insurance Contracts Regulations 2017 (Cth).
Do I need to provide my bank account details?
We’ll let you know if you’re entitled to a refund. Our communication will contain a Refund ID and will direct you to this page and our secure refund form where you can verify your contact details and either:
- Supply your preferred bank details for EFT refund, or
- Request a cheque payment to be sent to you.
If we request your payment details, please supply them through our secure refund form on this page.
What if I don’t feel comfortable using the secure refund form?
If you’d prefer to confirm your payment preference or provide your payment details by telephone, please contact our Pricing Promises Team between 9am-5pm, Monday to Friday:
T: 1300 019 929
What if my contact details have changed?
If you hold a current policy with us (or did so previously) and your postal address, email address or telephone number has changed since you purchased or last held the policy, please contact our Pricing Promises Team between 9am-5pm, Monday to Friday to update your details:
T: 1300 019 929
Who will help me if I need support with the refund form or understanding my refund entitlements?
If you need extra support, please contact our Pricing Promises Team between 9am-5pm, Monday to Friday:
T: 1300 019 929
What if you have not been able to contact me?
If you’re entitled to a refund, we will make reasonable endeavours to contact you via phone, email, or letter (where we have your details).
If you purchased a policy through a professional insurance broker, we’ll first attempt to contact the broker, and if that fails, we’ll attempt to contact you using any direct contact details we have for you.
If after an extended period of time we cannot contact you, we’ll either lodge your refund with a relevant state, territory or Commonwealth unclaimed money fund or pay it to a charity registered with the Australian Charities and Not-for-profits Commission. Despite this, you’ll remain eligible to claim it.
If you believe you are entitled to a refund and your contact details have changed, please contact our Pricing Promises Team 9am-5pm, Monday to Friday to update your details:
T: 1300 019 929
What if I have more than one policy?
If you have or had more than one affected policy, we will contact you about all of them.
What if I’m not happy with the refund process or my refund amount?
We’re committed to meeting and exceeding our customers’ expectations whenever possible and would like to know if they haven’t been met. You can make a complaint about any aspect of our pricing promises review or refund process. For information about our Complaints and Dispute Resolution process, please visit this page.
What if I’m not satisfied with the handling of my complaint?
If you are not satisfied with our handling of your complaint, you can refer your complaint to the Australian Financial Complaints Authority (AFCA). AFCA provides an independent external dispute resolution service. AFCA can be contacted at:
T: 1800 931 678
Does this impact NM Insurance’s financial viability?
No. We remain financially strong to deliver on our commitments and support our ongoing operations to serve our customers.
When will I receive my refund?
We’re working through identifying all affected policies and will be in touch with current and former customers who are owed a refund in the coming months. Given the complexity of this process, the entire refund program will take some time to complete.
If you’re entitled to a refund, our communication will direct you to this page and our secure refund form. Once you’ve selected your payment method, the refund will be issued as follows:
- EFT payments, will be automatically processed and deposited into your account within 15 business days.
- Cheque payments, will be processed within 15 business days, and dispatched to you via standard Australia Post.
Is it safe to provide my personal and financial information through this website?
Yes. Details provided through this page and our refund form are held securely. We will never ask you for personal or financial information through an email or text message.
Contact us
We’ll get in touch in the coming months if you’re due a refund.
In the meantime, our Pricing Promises Team is here to help and can be contacted between 9am-5pm, Monday to Friday on:
Securing the journey together.
NM Insurance is a business name of NM Insurance Pty Ltd ABN 34 100 633 038, AFSL 227186 (NM Insurance). NM Insurance is an underwriting agency with binding and claims authorities from Zurich Australian Insurance Limited. These allow it to enter into and arrange policies of insurance and handle and settle claims made under them. NM Insurance acts on behalf of the relevant insurer and not you when providing these services but does so under its own AFSL.
Products are issued by NM Insurance. Advice on this website is general so consider whether it suits your objectives, financial situation and needs. Always consider the relevant Target Market Determination and Product Disclosure Statement / Policy wording before buying or renewing insurance. These are available from the relevant branded website.
We comply with the General Insurance Code of Practice which is designed to raise standards of practice and service in the general insurance industry. The Code Governance Committee (CGC) is an independent body that monitors and enforces compliance with the Code. For more information about the Code or the CGC, visit www.codeofpractice.com.au.
Steadfast Group Ltd (ABN 98 073 659 677) (‘SGL’) has a majority shareholding in NM Insurance. SGL may receive a professional services fee (PSF) from insurers, premium funders and underwriting agencies such as NM Insurance (Partner) for access to regulatory and compliance support; marketing and communications; data insights; and access to technology platforms. The PSF is an agreed amount between SGL and the relevant Partner, usually annually. The PSF is not determined by the volume of the business that the Steadfast Network brokers place, nor is the amount of the PSF known to the Steadfast Network Brokers, so it is not able to influence recommendations to their clients.
NM Insurance may have access to shared services from SGL, including: compliance tools; procedures; manuals and training; legal; HR banking; and group purchasing arrangements. These services are funded by SGL, subsidised by SGL or SGL receives a fee for them.
SGL’s FSG is available at www.steadfast.com.au or on request by telephoning SGL’s Company Secretary on +61 2 9495 6500.
For information about interpreting services please contact the Australian Government’s Translating and Interpreting Service.
© 2021 NM Insurance Pty Ltd (ABN 34 100 633 038 AFSL 227 186). Created by Codex.