NM Insurance Pty Ltd and Zurich Australian Insurance Ltd Pricing promise refunds
In 2021, ASIC asked general insurers to review their pricing systems, controls and practices to ensure customers received the discounts they had been promised.
At NM Insurance, we completed an internal review and identified customers who were entitled to a refund. We attempted to contact those customers and processed refunds wherever possible. However, we were unable to reach everyone.
Customers who received a Refund ID beginning with either a Z (i.e. Z-PRI-000000-00000) or a Y (i.e. Y-PRI-000000-00000) held an eligible policy insured by Zurich Australian Insurance Limited (Zurich)between 17 July 2020 and 29 April 2023.
The online refund process for policies issued by Zurich is now closed. Please read on for further information.
For refunds which could not be processed, Zurich has taken the following steps:
– If the refund was more than $100, Zurich has sent it to the unclaimed money fund in the relevant state. To claim these funds, please contact the relevant unclaimed money authority in your state or territory and follow their process for recovering unclaimed money.
– If it was less than $100, Zurich has donated it to charity.
But don’t worry, you can still contact NM Insurance and claim your refund if it’s owed to you.
Need help or want to talk to us about your refund?
Answering some of your
potential questions:
How will I know I am eligible for a refund?
If you have a current or a previous policy which required a refund we have attempted to contact you by email, SMS and/or phone (or a combination of these).
How do I get my refund?
If we’ve previously sent you a communication about a refund, please call us on 1300 019 929
To help us identify the correct refund, if possible, please have your Refund ID from the communications we sent you handy. You will be asked a few questions to make sure we’re speaking to the right person.
The self-service secure Refund Portal is no longer available
If you would like to speak to us, please contact our Customer Service team between 8.30am – 5.00pm AEST, Monday – Friday on 1300 019 929.
The self-service secure Refund Portal is no longer available.
Please contact our Customer Service team on 1300 019 929, Monday – Friday, 8.30am – 5.00pm AEDT.
Or via email at: refunds@nminsurance.com.au
When emailing us, please provide a contact phone number in case we need to speak to you.
What if I don’t feel comfortable providing my details online/over the phone?
Any correspondence from us will always direct you to this page. 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.
If you have any concerns, please contact our Customer Service team on 1300 019 929, Monday – Friday, 8.30am – 5.00pm AEST.
Your broker, who was acting on your behalf at the time the policy was active has been made aware of this refund. You can ask your broker to contact us if you’d prefer.
I am trying to verify my ID online to receive the refund but I am unable to do so?
The self-service secure Refund Portal is no longer available.
Please contact our Customer Service team on 1300 019 929, Monday – Friday, 8.30am – 5.00pm AEST.
What will you do with my details?
We will only use the data we collect to enable this refund process.
We are committed to handling your personal information responsibly and in accordance with the Privacy Act 1988. You can read our Privacy Policy here.
You can also access this policy by typing the below into your preferred browser: https://www.nminsurance.com.au/privacy/
When will I receive my refund?
Once you have provided your account details your refund will be processed within 15 business days.
What if there are refunds across multiple policies?
You may have been contacted separately for each policy.
What do I do if I want to make a complaint?
You can make a complaint through our complaints process here.
You can also access this page by typing the below into your preferred browser: https://www.nminsurance.com.au/feedback-complaints/
Are the government charges being refunded?
Where applicable, the refund is inclusive of these charges.
How has the refund been calculated?
Your refund has been calculated as follows:
The premium refund + Applicable charges (such as Stamp Duty, GST and ESL where applicable) + Interest, in accordance with applicable laws relating to interest.
Who is NM Insurance?
NM Insurance Pty Ltd ABN 34 100 633 038, AFSL 227186, is an Australian insurance underwriting agency specialising in marine, motorcycle, caravan and motorhome insurance. With operations across Australia and New Zealand, NM Insurance works with leading insurers, brokers, manufacturers, dealerships and industry partners to deliver specialist insurance products and services.
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.
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