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Amex Travel Insurance, is this allowed?

glasszon

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I am looking to lodge a claim with the Amex Travel Insurance and I saw this line in the Q&A about the coronavirus:
We will not settle costs where the airline, hotel or excursion provider have a policy in place to provide
a refund or credit for future use.

Obviously this makes sense for a refund, but can travel insurance not pay out if we are offered credit for future use? I would argue a credit for future use is not a refund and hence I did incur a loss.
 
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samh004

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I would argue a credit for future use is not a refund and hence I did incur a loss.
But what happens if you then use that credit in the future to partially or fully offset a flight (whenever that is) – do you give an undertaking to pay back the money that the insurance company gave you, as you would have ended up ahead in this situation?

I guess the insurance companies look at an airline giving you a credit as them paying out already, otherwise you would be double dipping.
 

IrishPete

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But what happens if you then use that credit in the future to partially or fully offset a flight (whenever that is) – do you give an undertaking to pay back the money that the insurance company gave you, as you would have ended up ahead in this situation?

I guess the insurance companies look at an airline giving you a credit as them paying out already, otherwise you would be double dipping.
I don't think that's the question. It's about whether being OFFERED a credit should exclude you from an insurance claim.

I may be offered a $2000 credit by Etihad, but future flights might cost a heck of a lot more than that, if the airline survives, so I have no intention of accepting it. Like glasszon, I will be looking to claim from travel insurance (ANZ Travel Rewards Card) if Etihad does not refund.
 

samh004

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An interesting conundrum then, if you choose not to accept where that may leave you and your TI provider.
 

glasszon

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An interesting conundrum then, if you choose not to accept where that may leave you and your TI provider.
I read through the entire policy and there's nothing that states we have to accept a future travel credit:

Looks like it might be time for AFCA if the insurer turns down my claim.

Most of my claim is against a third party TA, and there's no way I will take a future travel credit with that TA, who may or may not survive this crisis.
 
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IAG to refund travel policies, defer premiums as insurers prepare relief package

"Insurance Australia Group will refund travel insurance premiums for holidays that have been cancelled or cut short, and allow stricken small businesses to defer their premiums, as the insurance industry works on plans to support customers hit by the coronavirus crisis.

The country's biggest general insurer, which trades under brands including NRMA, CGU and SGIO, this week announced a support package for customers affected by the global pandemic.

Other big insurers including QBE and Suncorp are working on similar measures, which require regulatory approval and are expected to be announced shortly.

Under the changes announced by IAG, the company said it would allow travel insurance customers to get a refund on the portion of their cover that had not been used, without charging cancellation fees. For example, someone who has come home two weeks into a planned four-week holiday would get a 50 per cent refund, while a customer who has not gone on their trip will get a full refund".

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