NAB Commercial Cards Liability Insurance

Transcription

1 NAB Commercial Cards Liability Insurance Policy Information Booklet Preparation date: 13 May 2014 Effective date: 1 June 2014 QM

2 Contents Important Information 2 Details of the Insurance 3 Sanctions limitations and exclusion clause 3 Termination of NAB Commercial Cards Liability Insurance 3 Privacy 4 The General Insurance Code of Practice 4 Complaints and Dispute resolution process 5 Financial Claims Scheme 5 Policy Wording 5 Definitions 5 Important Information This insurance covers NAB Commercial Card accountholders against unauthorised transactions made by their cardholders. This policy information booklet sets out when an unauthorised transaction is covered and what benefits will be provided under this insurance. You should read this booklet and keep it in a safe place, as it contains important information about the cover, including the exclusions and claims requirements. You should keep detailed particulars and proof of any loss, including relevant copies of NAB Commercial Card statement(s). This cover will only apply to commercial card transactions made on and from 1 June Policy Description 6 Commercial Cards Liability Insurance Policy Conditions 6 Excess 6 Policy Exclusions 6 What to do in the event of a claim 6 What QBE will do 7 General Conditions 7 Appendix A Notification of Claims template 8 Contact Details 9

3 Details of the insurance NAB has obtained the insurance available under the NAB Card Insurance under a Master Policy issued by QBE. As a NAB cardholder you are eligible to receive Benefits under this policy. Insurance details Issuer: QBE Insurance (Australia) Limited ABN AFS Licence No Pitt Street Sydney, NSW 2000 Insured: National Australia Bank Ltd NAB is not the issuer of the NAB Commercial Cards Liability Insurance. NAB nor any of its related corporations guarantee any of the Benefits under this Plan. NAB does not receive any commission or remuneration from QBE for arranging this insurance. Neither NAB nor any of its related corporations are authorised representatives under the Corporations Act 2001 (Cth) of QBE. Sanctions limitation and exclusion clause You are not insured under any section of this Policy where a claim payment breaches any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of Australia, the European Union, United Kingdom or United States of America. Termination of NAB Commercial Cards Liability Insurance NAB may terminate the NAB Commercial Cards Liability Insurance by providing written notification to their primary NAB Card holders. Only unauthorised transactions which occurred before the date the policy is terminated will still have the benefit of cover under the Policy.

4 Privacy All companies in the QBE Group are committed to safeguarding your privacy and the confidentiality of your personal information. QBE collects only that personal information from or about you for the purpose of assessing your application for insurance and administering your insurance policy, including any claim made by you. QBE will only use and disclose your personal information for a purpose you would reasonably expect. We will request your consent for any other purpose. Without this personal information we may not be able to administer your insurance or process your claim. Our aim is to always have accurate and up-to-date information, you should contact us if the information is not correct. QBE uses the services of a related company located in the Philippines to provide Call Centre sales and claims handling, accounting and administration services to QBE in Australia. QBE or our authorised agent may collect or disclose your personal information from or to: any person authorised by you; a mail house, records management company or technology services provider (for printing and/or delivery of mail and , including secure storage and management of our records). These companies may be located or the records stored using Cloud technology overseas, including in India, Ireland, USA or the Netherlands; a financier whose name appears on your Policy Schedule (for the purpose of confirming the currency of your Policy or when you have a claim and the insured property is a total loss, to confirm if the financier has a current interest); an organisation that provides you with banking facilities (for the purpose of arranging direct debit or other payment transactions or confirming payments made by you to us); a financial services provider or our agent who is arranging your insurance (for the purpose of confirming your personal and insurance details); another person named as a co-insured on your Policy (for the purpose of confirming if full disclosure has been made to us); another insurer (to obtain confirmation of your no claim bonus or to assess insurance risks or to assist with an investigation); our reinsurer that may be located overseas (for the purpose of seeking recovery from them); a dispute resolution organisation such as the Financial Ombudsman Service (for the purpose of resolving disputes between QBE and you or between QBE and a third party); a company to conduct surveys on our behalf for the purpose of improved customer services; and an insurance reference bureau (to record any claims you may make upon us). In addition to the above, in the event of a claim, QBE or our authorised agent may disclose your personal information: to a repairer or supplier (for the purpose of repairing or replacing your insured items); to an investigator, assessor (for the purpose of investigating or assessing your claim); to a lawyer or recovery agent (for the purpose of defending an action by a third party against you or recovering our costs including your excess or seeking a legal opinion regarding the acceptance of a claim); to a witness to a claim (for the purpose of obtaining a witness statement); to another party to a claim (for the purpose of obtaining a statement from them or seeking recovery from them or to defend an action by a third party). Personal information (about you) may also be obtained from the above people or organisations. In addition we will: give you the opportunity to find out what personal information we hold about you and when necessary, correct any errors in this information. Generally we will do this without restriction or charge; and provide our dispute resolution procedures to you, should you wish to complain about how we handle your personal information. To obtain further information about our Privacy Policy or to request access to or correct your personal information, please compliance.manager@qbe.com. To make a complaint complaints@qbe.com. The General Insurance Code of Practice QBE is a signatory to the General Insurance Code of Practice. The code aims to: 1 Promote more informed relations between insurers and their customers; 2 Improve consumer confidence in the general insurance industry; 3 Provide better mechanisms for the resolution of complaints and disputes between insurers and their customers; and 4 Commit insurers and the professionals they rely upon to higher standards of customer service. For more information please visit the Code of Practice website or follow the links from the Insurance Council of Australia s website at

5 Complaints and Dispute resolution process We will do everything possible to provide a quality service to you. However, we recognise that occasionally there may be some aspect of our service or a decision we have made that you wish to query or draw to our attention. We have a complaints and dispute resolution procedure which undertakes to provide an answer to your complaint within fifteen (15) working days. If you would like to make a complaint or access our internal dispute resolution service please contact the nearest QBE office and ask to speak to a dispute resolution specialist. If you are not happy with our answer, or we have taken more than fifteen (15) working days to respond, you may take your complaint to the Financial Ombudsman Service (FOS), an ASIC approved external dispute resolution body. FOS resolves certain insurance disputes between consumers and insurers and will provide an independent review at no cost to you. QBE is bound by the determination of FOS but the determination is not binding on you. We will provide the contact telephone number and address of the FOS office upon request. Financial Claims Scheme NAB Commercial Cards Liability Insurance is a protected policy under the Financial Claims Scheme (FCS), which protects certain insureds and claimants in the event of an insurer becoming insolvent. In the unlikely event of QBE becoming insolvent you may be entitled to access the FCS, provided you meet the eligibility criteria. More information may be obtained from APRA or Policy Wording NAB Card Insurance is underwritten by QBE Insurance (Australia) Limited ABN , AFS Licence No Definitions Applicable to ALL PARTS of the NAB Card Insurance policy document. The following definitions apply throughout the terms and conditions set out in this Policy Information Booklet. Accountholder means a business entity or corporation, who is a NAB customer and has entered into a NAB Commercial Card facility with NAB. Business day means a day other than a Saturday or Sunday or a day gazetted as a public holiday throughout Australia. Cardholder means a permanent resident of Australia to whom NAB has issued a NAB Commercial Card at the request of the accountholder. Family member(s) means a person s spouse; son; daughter; father or mother. NAB means National Australia Bank Limited ABN , of 800 Bourke Street, Docklands, Victoria NAB Commercial Card means any one of the following NAB Commercial Cards: Visa Business Card, Visa Purchasing Card, Visa Corporate Card and Visa Business Access Card. MasterCard Business Card, MasterCard Purchasing Card, MasterCard Corporate Card, MasterCard Business Access Card and MasterCard Qantas Business Card. American Express Velocity Business Card. Terrorist act(s) means any act: (a) which is verified or recognised by the (relevant) government as an act of terrorism; or (b) including but not limited to the use of force or violence and/or the threat of any person or group(s) of persons whether acting alone or on behalf of or in connection with any organisation(s) or government(s) committed for political, religious, ideological or similar purposes including the intention to influence or overthrow any government and /or to put the public or any sector of the public in fear, or at risk of terrorist acts. Unauthorised transaction(s) means a transaction made by a cardholder using a NAB Commercial Card, which has been processed to the account of the accountholder but was not: (a) authorised in any way by the accountholder; and/or (b) within the cardholder s authority to transact. We, our, us, means QBE Insurance (Australia) Limited ABN AFSL You and your means a NAB cardholder and includes your spouse and/or your dependent children who are travelling with you for the entire overseas or interstate journey.

6 Policy Description NAB Commercial Cards Liability Insurance provides to the accountholder complimentary insurance against unauthorised transactions made by a cardholder which are charged to the accountholder s NAB Commercial Card account, but not authorised in any way by the accountholder and/or was outside the cardholder s authority to transact (subject to the policy conditions and exclusions set out in this booklet). Commercial Cards Liability Insurance Policy Conditions 1. The accountholder must in writing, notify each cardholder of his or her limits of authority in relation to using the NAB Commercial Card for authorised transactions. 2. In the event of an unauthorised transaction occurring, the accountholder shall take all reasonable actions to recover from the cardholder all unauthorised transaction amounts made by that cardholder. To the maximum extent permissible by law, the accountholder shall in addition, utilise any monies held for or on behalf of the cardholder to avoid or reduce any loss through unauthorised transactions. 3. The accountholder must direct NAB by calling to cancel the cardholder s NAB Commercial Card on the same day when: a. The accountholder withdraws authority of a cardholder to use the NAB Commercial Card; or b. The cardholder s employment is terminated; or c. The accountholder becomes aware that unauthorised transactions have incurred or were suspected to be incurred by the cardholder. 4. Where possible, the accountholder must also attempt to retrieve, the NAB Commercial Card from the cardholder and cut it in half and return it to NAB at the address printed on the NAB Commercial Card statement of account. Where the accountholder is unable to obtain the cardholder s NAB Commercial Card, the accountholder must submit the notification of claim form together with evidence of the withdrawal of authority given to the cardholder. 5. Limits of our Liability A$20,000 per individual cardholder up to a maximum limit of A$150,000 per accountholder in any twelve (12) month period. 6. When the accountholder becomes aware of an unauthorised transaction which is subject to a claim under this Policy, the accountholder must report to the police and obtain a police report. 7. In the event of a claim the accountholder must provide QBE with all necessary information and assistance QBE may reasonably require to institute proceedings against other parties to enforce any rights or remedies to which QBE shall or would become entitled or subrogated upon QBE making payment or making good any loss or damage under this policy. Excess The Commercial Cards Liability Insurance has a Nil Excess. Policy Exclusions We are not liable for any claims resulting from any: 1. Loss caused by or resulting from Terrorist acts; 2. Indirect losses or consequential liability of any kind other than unauthorised transactions amounts; 3. Unauthorised transactions incurred by a director, partner, principal or owner of the accountholder or any family members of the above mentioned directors, partners, principal or owners; 4. Unauthorised transactions before 1 June What to do in the event of a claim On learning of an occurrence likely to result in a claim, the accountholder must: 1. Immediately call to notify NAB of the occurrence. 2. As soon as practicable complete and send to NAB a Notification of Claim in the format attached on page 14 of this policy booklet. 3. Where possible, immediately retrieve, the NAB Commercial Card from the cardholder and cut it in half and return it to NAB at the address printed on the NAB Commercial Card statement of account. 4. Issue to the cardholder a letter withdrawing his or her authority to use the NAB Commercial Card. 5. If you are unable to obtain the cardholder s NAB Commercial Card, the accountholder must submit the notification of claim form together with evidence of the withdrawal of authority given to the cardholder. 6. NAB will forward to QBE, copies of the Notification of Claim and copy of the withdrawal of authority letter (where applicable).

7 7. Once QBE has received the Notification of Claim from NAB, we will send to you a claim form for you to complete. 7.1 The completed claim form, together with a copy of the police report and a copy of the relevant NAB Commercial Card account statement(s) detailing the unauthorised transactions are to be returned by you to QBE within thirty (30) days of receipt of the claim from QBE. 7.2 Failure to report the potential claim or to fully complete and submit the claims form within the times stated above may result in the denial of your claim. 7.3 You shall provide to QBE all necessary information and assistance we may reasonably require to institute proceedings against other parties to enforce any rights or remedies to which we shall or would become entitled or subrogated upon our making payment or making good any loss or damage under this policy. What QBE will do In the event of an accepted and admitted claim, QBE will make payment of any unauthorised transaction amounts to the accountholder within thirty (30) days of the completion of claims assessment by QBE. If QBE believes that we are not liable under the terms of this policy, we will inform the accountholder in writing of our decision and our reasons. General Conditions Claims against you You must provide us immediately with full particulars of any claim made against you by any other person, all legal documents served on you and allow us at our sole option to negotiate settlement of, or defend the claims in your name. You must assist us even after we have paid your claim if we want to defend you against an allegation. This could include attending court to give evidence. Subrogation If you can claim from anyone else and we also pay you, then you must refund us the amount we paid if they pay you. You cannot claim from both us and someone else unless we are only making up the difference. You must assist us even after we have paid your claim if we want to recover the amount of any payment from anyone who caused you to suffer loss or damage. This could include attending court to give evidence. You must not start any legal action for recovery of amounts the subject of a claim before telling us and receiving our prior consent. Fraudulent claims If any claim is in any respect fraudulent or if any fraudulent means or devices are used by you or anyone acting on your behalf to obtain any Benefit under the NAB Card Insurance policy then any amount payable in respect of such claim may be forfeited. Australian law This NAB Card Insurance policy shall be interpreted in accordance with the law of the State or Territory in Australia in which the NAB cardholder usually resides and will be subject to the jurisdiction of the courts of that State or Territory of Australia. Currency All amounts shown are in Australian dollars. If expenses are incurred in a foreign currency, then the rate of currency exchange used to calculate the amount payable will be the rate at the time of incurring the expense or suffering a loss. How to Make a Claim Please contact NAB directly on if you wish to make a claim. Full details of what you must do for us to consider your claim are provided in the What to do in the event of a claim section of your Policy.

8 Appendix A NAB Commercial Card Notification of Claim Template Template to be presented on your company s/business s letterhead and sent to NAB at: To NAB Commercial Cards GPO Box 9992 Melbourne, VIC 3001 We wish to lodge a claim in respect of an unauthorised transaction(s) and request a claim form to be sent to this office. In terms of the conditions applying to such a claim we hereby request and authorise NAB to cancel the NAB Commercial Card specified below: NAB Commercial Card Number: Name of cardholder: Address of cardholder (home): For and on behalf of: Company/Business name (accountholder) please print Name of authorised person please print Signature Date / / Address of cardholder (business): The police have been notified of this matter and a copy of the police report is attached. Checklist (Please tick the boxes below as appropriate) The NAB Commercial Card has been cut in half and destroyed. The NAB Commercial Card has been previously returned to NAB. The NAB Commercial Card is still in the possession of the cardholder and the cardholder s authority to use the NAB Commercial Card has been withdrawn (evidence of the withdrawal of authority given to the cardholder attached).

9 Contact Details For policy enquiries or how to lodge a claim. If you are within Australia, please call our toll free number If outside Australia call Please note that this is not a toll free number. Our Operating Hours: For all enquiries: Monday to Friday: 8:30am to 5:00pm AEST

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12 For more information call Business Cards or visit us at nab.com.au Hearing impaired customers with telephone typewriters can contact us on National Australia Bank Limited ABN AFSL and Australian Credit Licence A0514