Updated policy information booklets

The NAB Commercial Cards Transit Accident Insurance as amended by the Notice of Change effective 30 June 2022 and NAB Commercial Cards Unauthorised Transaction Insurance as amended by the Notice of Change effective 30 June 2022 booklets have been updated. The updated booklets come into effect on 1 November 2023. You can obtain copies of the old and updated booklets using  the links below:

Summary of changes

The substantial changes made to the booklets are briefly outlined on this page.  Please note, the outline is only a high-level summary and is not intended to be relied upon as a complete or accurate list of changes made.  NAB recommends that you review the updated booklets in detail before relying on the insurances provided in the booklets.

NAB Commercial Cards Transit Accident Insurance

  • The notice of change, which appeared at the start of the booklet, has been removed as the changes referenced have been incorporated into the new booklet.
  • Contact details and information for Allianz have been updated.
  • References to NAB have been replaced with the Bank for consistency across all NAB complimentary insurance booklets.  Consequently, a new definition for the term ‘Bank’ has been included.
  • Change to the Termination or Variation of Cover section to better outline Allianz and NAB’s rights to vary the terms of the cover or terminate the cover.  This includes the introduction of a requirement to provide at least 30 days written notice of termination.
  • Update to the Other Insurances section to better outline when you will be covered in circumstances you hold other insurance for the same event.  This is to clarify that, if you hold other insurance, the policy only offers top-up cover.
  • Rewording of the Limitation of Cover section to more clearly call out that Allianz is not required to provide cover where providing that cover would result in Allianz incurring a penalty on contravening a sanction.
  • Introduction of a definition for the term ‘Group Policy’ to make it clearer when the booklet is referring to the policy issued under the booklet.
  • Inclusion of a definition for the term ‘reasonable’ to better reflect what is expected by you and Allianz when an obligation requires a party to act reasonably.
  • Expanding the period of cover to include travel immediately before the scheduled trip (e.g. travel to the airport).
  • Rewording of the Part C – Benefit Limits section to more clearly outline how the aggregate limit applies where there is one claim which relates to two or more eligible cardholders.
  • Update to Part D – Excess & Exclusions to more clearly articulate the exclusions and introducing additional exclusions including (but not limited to):
    • travel against medical advice or to obtain medical treatment or advice
    • a claim arising from or contributed to by illegal or criminal activity by you or by someone else with your consent
    • failing to take reasonable care
    • flying other than as a passenger in a fully licensed aircraft operated by an airline.
  • Rewording the Claims section to clearly articulate the claims process.
  • The Complaints and Dispute Section has been reworded to be more concise.
  • The General Insurance Code of Practice section been reworded.
  • General wording changes throughout the booklet.

NAB Commercial Cards Unauthorised Transaction Insurance

  • The notice of change, which appeared at the start of the booklet, has been removed as the changes referenced have been incorporated into the new booklet.
  • Contact details and information for Allianz have been updated.
  • References to NAB have been replaced with the Bank for consistency across all NAB complimentary insurance booklets.  Consequently, a new definition for the term ‘Bank’ has been included.
  • Change to the Termination or Variation of Cover section to better outline Allianz and NAB’s rights to vary the terms of the cover or terminate the cover.  This includes the introduction of a requirement to provide at least 30 days written notice of termination.
  • Update to the Other Insurances section to better outline when you will be covered in circumstances you hold other insurance for the same event.  This is to clarify that, if you hold other insurance, the policy only offers top-up cover.
  • Rewording of the Limitation of Cover section to more clearly call out that Allianz is not required to provide cover where providing that cover would result in Allianz incurring a penalty on contravening a sanction.
  • Introduction of a definition for the term ‘Group Policy’ to make it clearer when the booklet is referring to the policy issued under the booklet.
  • Inclusion of a definition for the term ‘reasonable’ to better reflect what is expected by you and Allianz when an obligation requires a party to act reasonably.
  • Update to Part D – Excess & Exclusions to more clearly articulate the exclusions.
  • Rewording the Claims section to clearly articulate the claims process.
  • The Complaints and Dispute Section has been reworded to be more concise.
  • The General Insurance Code of Practice section been reworded.
  • General wording changes throughout the booklet.

Terms and Conditions

AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance, under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB) which allows eligible persons to claim under it as third-party beneficiaries.

Access to the benefit of cover under the NAB insurances is available to eligible NAB cardholders and other eligible third-party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth). Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice. The insurance is underwritten by Allianz. NAB is not the product issuer or insurer and neither it nor any of its related bodies corporate guarantee any of the benefits under this cover. If an eligible person wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, exclusions, limits and applicable sub-limits of the group policy set out in the above booklets.

While NAB has taken reasonable care in preparing the summary of changes above, the summary may not be accurate or complete.  NAB is not responsible for any loss or damage you may suffer as a result of relying of the summary of changes.