Chubb Target Market
Determination
American Express TravelInsuranceChubb Target Market Determination

Important Information
This Target Market Determination (TMD) is designed to assist customers,
distributors and Chubb Insurance Australia Limited (Chubb) staff tounderstand who this product has been designed for and who it is not suitable for.
The TMD identifies triggers for Chubb to review the target market and sets out
the conditions and restrictions on distribution of the product described below. It
also sets out the reporting obligations of Chubb’s distributors. This document isnot a Product Disclosure Statement (PDS) and is not a summary of the productfeatures or terms of the product.
This document does not take into account any person’s individual objectives,
financial situation or needs and is not intended to constitute personal advice.
Persons interested in acquiring this product should carefully read the PDS before
deciding whether to purchase this product.
This TMD is effective from the date of publication until its replacement orwithdrawal. This Target Market Determination (TMD) is required under section
994B of the Corporations Act 2001 (Cth) and has been prepared by the productissuer, Chubb AFSL 239687 ABN 23 001 642 020.
Where a word is capitalised in this TMD and not otherwise defined, thedefinition of the word can be found in the policy wording/PDS.
The PDS for the product can be found here American Express Travel Insurance.

Chubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited. Chubb®, its logos, and Chubb. Insured.SM are protectedtrademarks of Chubb.

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Target Market Determination
1. Details
Product Name/s:

American Express Travel Insurance (PDS reference 23AMEXPDSAU01)(the Product)

Publication Date ofTMD:

Original publication date: September 2021

Next Review Date:

December 2025 (2 years from date of last review)

Frequency of Product
Reviews:

Every 2 years from date of publication, subject to intervening review triggers as
outlined in section 4 of this TMD

Date of last review: December 2023

2. Product Target Market
What is the Product?
The Product offers travel insurance for Australian residents, travelling within Australia or departing fromAustralia to travel overseas.
Key covers/attributes✓ Trip Cancellation and Amendment cover - provides cover for reimbursement of non-refundable andunused deposits, excursion and accommodation costs (paid in advance) in the event of cancellationor change of the trip (due to specified unforeseen circumstances outside of the customer’s control).
✓ Overseas Medical Emergency Expenses - provides cover for Repatriation/Evacuation,
reimbursement or payment of overseas medical emergency treatment, emergency dental treatment
and reasonable extra accommodation costs in the event of a Medical Emergency whilst on anoverseas trip.
✓ Personal Baggage, Valuables, Money and Travel Documents Cover - provides cover for damaged,destroyed, lost or stolen Personal Baggage, Valuables, Money and Travel Documents during the trip.
✓ 24/7 emergency assistance to help in the event of a medical emergency, natural disaster or security
incident.
✓ Coronavirus Disease 2019 (COVID-19) Cover – provides limited cover for:oReimbursement of costs incurred from having to cancel, curtail or change the trip because
the customer or their travelling companion contracted COVID-19 after the Policy is issued;oReimbursement or payment of overseas medical emergency expenses incurred as a result of
the customer having contracted COVID-19 while on an overseas trip; andoReimbursement or payment of transportation of remains or burial expenses if the customer
dies as a result of having contracted COVID-19 while on a trip.

Key exclusions
×Pre-existing Medical Conditions are not covered under the Policy (for further information, refer tothe Policy).

Chubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited. Chubb®, its logos, and Chubb. Insured.SM are protected trademarks of Chubb.

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×Cover is excluded for domestic (within Australia) travel medical expenses. Medical expenses cover islimited to overseas travel only (subject to Policy terms and limitations).

×

Cover is excluded for claims arising from COVID-19 (or any mutation or variation thereof) otherthan as specifically outlined under “Key covers/attributes” above. See Section A and Section B of thePDS for details.

×

Travelling against the medical advice of a Doctor who has deemed the customer unfit to travel.

×Travelling against the travel advisory warnings of “Do Not Travel” issued by any Australian State,
Territory or Federal Government or Government agency, such as the Department of Foreign Affairsand Trade (DFAT).

×

Persons looking to participate or engage in certain specified excluded sports and activities (such as,
jet skiing and bungee jumping). For further information refer to Excluded Sports and Activities inthe PDS.

×

Persons looking for Rental Vehicle Excess Cover, or who engage in Snow Sports or travel on aCruise, but do not purchase the applicable optional add-on.

×

Loss arising in a country subject to international sanctions as set out in the PDS.

Eligibility Criteria
This Product is designed for individuals who satisfy the following eligibility criteria:✓ are a Resident of Australia;✓ are 79 years or younger when purchasing the Policy;✓ are travelling for a maximum of 180 days on a domestic trip (within Australia) or an overseas trip(that commences in Australia); and✓ purchase the Policy before their trip commences
Customers the Product was designed for
The product is designed for individuals who meet the eligibility criteria listed above and who do not require
cover for the policy exclusions.
Classes of Customers
The class of customers for whom this Product is targeted can be categorised as:✓ Australian residents planning travel who are 79 years or younger when purchasing this policy.
Customer's likely objectives, financial situation, and needs
Objectives

The likely objectives of customers in this target market are to protect themselves from a
range of potential travel-related losses, including unforeseen cancellation or disruption,
loss of baggage and overseas medical expenses.

Financialsituation

Customers must have the financial means to travel, pay the premium and relevant excess
in the event of a claim. It includes customers who have the financial means to cover mosttravel-related losses upfront before seeking reimbursement. Customers in a variety ofChubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited. Chubb®, its logos, and Chubb. Insured.SM are protected trademarks of Chubb.

4different financial positions may seek to protect themselves against the losses andliabilities covered by this Policy.
NeedsThe target market includes individuals that may require coverage for certain travelrelated exposures.
Below are some of examples of travel-related exposures for which a customer may needcover (and for which the Product may provide cover):•••a customer requiring medical treatment whilst on an overseas trip;
a customer having their baggage stolen whilst on a trip;
a customer having to cancel their trip prior to departure due to specified unforeseen
events outside their control.

Customers the Product was not designed forThis Product is not suitable for those individuals who:× are not travelling;× fall outside the eligibility criteria, being those:•••

who are 80 years of age or older at the time the Policy is purchased;
whose trip doesn’t commence in Australia;
who are not a Resident(s) of Australia;

× are travelling for more than 180 days;
× are seeking travel insurance to cover loss(es) incurred as a result of border closures or government
issued “Do Not Travel” warnings.
Why the Product is consistent with the Target Market
Chubb views that the Product is consistent with the target market as it comprises customers travellingdomestically (within Australia) and overseas and the product provides cover for unexpected andunbudgeted costs which may arise during the customer’s trip, as well as pre-trip cancellation costs due tospecified unforeseen circumstances. It is therefore likely that the Product will meet the needs, or go towards
meeting the needs, of those in the target market.
3. Conditions/Restrictions on product Distribution
Restriction/Condition

Description

Method ofdistribution

This Product is promoted online by:•American Express Australia Limited (ABN 92 108 952 085, AFSL No. 291313)
using a Chubb hosted quote engine https://amex.chubbtravelinsurance.com/AU(Promoter).

In promoting the Product, the Promoter acts under its own AFSL, not as an Authorised
Representative of Chubb. The Promoter is not authorised to provide financial advice inrelation to the Product.
The Product is issued and distributed by Chubb:

Chubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited. Chubb®, its logos, and Chubb. Insured.SM are protected trademarks of Chubb.

5••online https://amex.chubbtravelinsurance.com/AU; andvia Chubb’s inbound sales team.

Underwriting
criteria

Chubb, as the distributor, is required to distribute the product in accordance with its
underwriting criteria which includes age, destination(s) and trip duration.

Promotional
Material

Any promotional material used by the Promoter in relation to the Product must be preapproved by Chubb and must contain an electronic link to this TMD. . In approving suchpromotional material, Chubb will consider the promotional material for consistency withthe target market.

Distributionin accordancewith TMD

The Product must only be distributed in accordance with this TMD and the contractual
arrangements in place between Chubb and the Promoter.

Explanation
Customers who obtain the Product in accordance with the distribution conditions set out above are more
likely to be in the target market for this product because they are likely to be actively purchasing domestic(within Australia) or overseas travel and interested in obtaining insurance for that trip.
4. Product Review
Periods ofreview:

Mandatory periodic reviews of the TMD will occur at least every 2 years subject tointervening review triggers (see below).

Review triggers:
Review triggers are events that suggest the TMD may no longer be appropriate and may trigger a review
prior to periodic review as set out above. The review triggers for this product are set out below.
1.

Any material change to the Product, including a change to the PDS.

2.

Changes to relevant laws, regulatory guidance, or industry codes.

3.

Any determination of or feedback from regulators, the Australian Financial Complaints Authority, acourt or a tribunal suggesting that the target market may no longer be appropriate (including theuse of Product Intervention Powers).

4.

The nature of feedback regarding the Product, including whether complaints have increased
significantly from consumers or distributors.

5.

Distribution or purchasing of the Product in a manner significantly inconsistent with the TMD.

5. Reporting Obligations
Distributor Reporting Obligations
Type ofReport

Description

Reporting Period

Complaints

As Chubb distributes this Product directly to thetarget market outlined in this TMD, allcomplaints are received by Chubb pursuant toQuarterly (10 business days after
the quarter has closed)

Chubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited. Chubb®, its logos, and Chubb. Insured.SM are protected trademarks of Chubb.

6the Complaints and Dispute Resolution Process
set out in the Product Disclosure Statement. If
any complaints are made to the Promoter, theseare forwarded to Chubb.

Send data to:
DisputeResolution.AU@chubb.com

Complaint is defined in the Australian Securities
and Investment Commission (ASIC) Regulatory
Guide RG 271.
Significant
dealings

A significant dealing in the Product which is notconsistent with this TMD must be notified toASIC. What amounts to a "significant dealing"
will be determined by the circumstances of eachcase but generally:•••

regard should be had to the proportion ofcustomers purchasing the product who
are not in the target market, the actual or
potential harm to those customers, andthe nature and extent of theinconsistency of distribution with theTMD.
distributors should have regard tocurrent ASIC guidelines whendetermining what may constitute asignificant dealing.
if in doubt, Distributors must report thedealing to Chubb, so that Chubb canundertake the necessary assessments.

Within 1 business day of becoming
aware of the significant dealing.

Send data to:
aus.incidentreporting@chubb.com

The report must include:
••••
•
•

date(s) of the significant dealing;
description of the significant dealing;
why the dealing is significant;
how the significant dealing wasidentified;
what steps, if any, have been taken in
relation to persons affected by thesignificant dealing;
steps which have been, or will be, taken
to ensure that the significant dealing does
not occur again.

6. AppropriatenessChubb has assessed the Product’s key attributes and formed the view that it is likely to be consistent withthe likely objectives, financial situation and needs of consumers in the target market as described within
this TMD.

Chubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited. Chubb®, its logos, and Chubb. Insured.SM are protected trademarks of Chubb.

7About Chubb in Australia

Contact Us

Chubb is the world’s largest publicly
traded property and casualty insurer.
Chubb, via acquisitions by its predecessor
companies, has been present in Australia
for 100 years. Its operation in Australia(Chubb Insurance Australia Limited)
provides specialised and customised
coverages including Business Package,Marine, Property, Liability, Energy,
Professional Indemnity, Directors &Officers, Financial Lines, Utilities as wellas Accident & Health, to a broad client
base, including many of the country’s
largest companies. Chubb also serves
successful individuals with substantial
assets to insure and consumers purchasing
travel insurance.

Chubb Insurance Australia Limited
ABN: 23 001 642 020 AFSL: 239687
Grosvenor Place
Level 38, 225 George Street
Sydney NSW 2000
O +61 2 9335 3200
www.chubb.com/au

More information can be found atwww.chubb.com/au.

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Chubb Target Market Determination, American Express Travel Insurance, Australia. Published 12/2023.
©2023 Chubb Insurance Australia Limited ABN: 23 001 642 020 AFSL: 239687. Chubb®, its logos, andChubb. Insured.SM are protected trademarks of Chubb. Chubb-A&HCONTV-AMEXAU-ST-TMD-1223