This Target Market Determination (TMD) applies to all travel insurance products designed and distributed in the Australian market by Coffre-Fort Pty Ltd.
Coffre-Fort Pty Ltd has appointed 1Cover Pty Limited (1Cover) ABN 91 105 954 265 as its Authorised Representative to deal in these travel insurance products. 1Cover deals in products under its registered trading name 1Cover.
This TMD was prepared on 18 September 2021 and is effective from 5 October 2021. It will apply to policies that are purchased on or after 5 October 2021.
This TMD provides customers and distributors with information about:
This travel insurance is suitable for travellers (that meet the acceptance criteria) who are looking to protect their trip from a range of risks that may arise from travel within Australia or overseas. These include but aren't limited to medical emergencies (international only), trip cancellation, lost luggage and rental vehicle excess.
Our travel insurance has been designed so that it can be tailored to meet different needs and objectives. This can be based on the length and destination of the trip, options for excess, and certain optional covers.
Our Travel Insurance is Appropriate For:
Note that customers fall within the target market if all the following conditions apply.
Our Travel Insurance is NOT Appropriate For:
Note that customers are not within our target market if any of the following conditions apply.
There are two main types of cover available under the Insurance:
The travel insurance products can be tailored to suit the individual person. This can be based on the length and destination of the trip, options for excess, and certain optional covers.
Domestic Travel Insurance
This domestic travel insurance policy is appropriate for individuals, families and groups that meet all of the following conditions.
This domestic travel insurance policy is NOT appropriate for individuals, families, and groups if any of the following conditions apply.
International Travel Insurance
This international travel insurance is appropriate for individuals, families and groups that meet all the following conditions.
This international travel insurance policy is NOT appropriate for individuals, families, and groups if any of the following conditions apply.
This Travel Insurance is only available to buy via our website at www.1cover.com.au or by contacting our customer service team. Policies can also be purchased over the phone by arranging a call back through our online chat or emailing customer service.
All staff have been adequately trained in the travel insurance products, the customer(s) they are intended for, and the underwriting criteria. We have structured our purchase path to ask questions and guide customers that fall within the target market to insurance products that are likely to meet their objectives.
We are required to report the following information to Lloyds, the insurer at the following times:
Information Monitored | Reportable Event & Frequency |
---|---|
Complaints |
All complaints in relation to this product on a monthly basis. This will include written details of the complaints and any steps taken to address the complaint. |
Sales data |
Relevant sales and customer data in relation to this product on a monthly basis. |
Claims data |
Where relevant, claims data in relation to this product on a monthly basis. |
Significant dealings |
If there are any significant dealings that are inconsistent with the TMD, we will report it as soon as practicable after becoming aware of the matter, and no later than 10 business days. |
The information in this TMD is general only and it is also not a full summary.
You will need to read the relevant Product Disclosure Statement (PDS) and any supplementary document(s) to understand the full extent of cover and other terms and limits that may apply.
This document is not intended to provide financial advice regarding coverage, nor does it form a part of the terms of cover. In addition to the key eligibility requirements outlined in this document, the product is also subject to acceptance criteria.
This policy will be reviewed regularly to ensure that it remains appropriate for customers and complies with the requirements under the Design and Distribution Obligations under Part 7.8A of the Corporations Act 2001 (Cth). The initial review will be conducted within 12 months of its first publication date. Then within 3 years of completion of the previous review thereafter.
In addition to scheduled reviews, there may be events that trigger a review. If we determine that there has been an event or circumstance that reasonably suggests that this TMD needs to change, we will review the TMD within 10 business days.
Review triggers may include (but are not limited to):
Document Owner: Coffre-Fort Pty Ltd
Approved By: Coffre-Fort Chief Executive Officer
Last Updated: September 2021