Domestic Travel Insurance

Target Market Determination

Effective Date: 30 March 2022

Version: NSIDOMTMD-0322

Domestic Travel Insurance

Target Market Determination

Effective Date: 30 March 2022

Version: NSIDOMTMD-0322

1. About this document

This Target Market Determination (TMD) applies to the product(s) set out in Section 6 and identifies who this travel insurance is designed for. Customers can use this TMD to decide if the insurance product meets their objectives, financial situation and needs. It also outlines the conditions of distribution of this insurance.

The benefits and cover offered by this insurance depend on the plan and options selected. Information contained in this TMD does not constitute personal advice. Customers must assess the cover offered to determine if it is suitable for their circumstances.

2. Target Market for this insurance

Australian Travel Plan - This plan provides single trip cover for more events and has higher benefit limits compared to the Cancellation and Additional Expenses plan.

This is suitable for customers who:

This is not suitable for customers who:

Meet the following eligibility criteria:

  • are residents of Australia of any age; and

  • are only travelling within Australia, either one way or return; and

  • are taking a trip of up to 12 months in duration within 12 months of purchase of this travel insurance.

Have the following objectives that are met by the key attributes of this product:

  • Seek protection from financial loss as the result of specific defined unforeseen events, that may be incurred prior to or whilst travelling. For example, this plan can protect a consumer against financial loss for:

    • defined trip cancellation events, before and while they travel;

    • accidental loss, theft, or damage to luggage and personal effects;

    • rental vehicle insurance excess as a result of accidental damage or theft to a rental vehicle; and

    • some Coronavirus related events.

  • may want cover for, and agree to undertake a medical screening for any existing medical condition(s) that does not meet the criteria for automatic cover.

  • want access to assistance during their trip for guidance, support (even when losses may not be covered by the policy) and general policy and coverage information, as they would not likely have specialist resources available to them.

  • do not wish to pay an additional premium for this cover to apply to travel by river cruise within Australian waters.

  • may want to tailor cover to be more suited to their insurance needs for their planned travels by:

    • lowering the excess applied if a claim is paid to minimise out of pocket expenses for covered events;

    • increasing the rental vehicle excess cover limit to cover rental vehicle insurance excesses of a higher value

    • increasing the cancellation limit so greater benefits are available for trips of higher value;

    • specifying valuable items to increase cover limits and not have depreciation apply;

    • adding cover for loss arising from participation in snow sports; and

    • adding cover for their existing medical condition(s).

Whose financial situation is consistent with the following:

  • Persons who can pay the full quoted premium for the plan and options selected before the policy is issued;

  • Persons who can incur the applicable excess if a claim is made; and

  • Persons who may not wish to, or be able to, cover expenses themselves for events covered by this travel insurance.

  • want to be covered for travel overseas; or

  • are not starting or ending their trip at their home in Australia; or

  • are Australian expatriates based overseas; or

  • want cover for cruises in Australian coastal or territorial waters; or

  • want cover for multiple trips under a single policy; or

  • want cover for loss arising from excluded activities; or

  • want cover for travel to a destination subject to a “Do Not Travel” warning issued by the Australian Government’s Department of Foreign Affairs and Trade; or

  • require cover that would cause us to be in breach of any restriction under United Nations resolutions or any sanctions, laws or regulations of Australia, the European Union, the United Kingdom or the United States; or

  • want cover for excluded losses relating to an epidemic or pandemic or associated travel restrictions; or

  • want cover for existing medical conditions that do not meet the criteria for automatic cover and:

    • do not agree to undertake a medical screening to determine the cover available; or

    • are not offered cover following a medical screening.

Cancellation and Additional Expenses Plan - This plan provides the least amount of single trip c