You can phone us on: 0800 800 181 or visit us online for other ways to get in touch.
We’ll be refunding or crediting the total amount of any overpaid premium plus the time value of money.
If we’ve asked you for proof of your bank account, please go to https://contact-us.southerncross.co.nz/refund-details, complete the form and attach proof of your bank account which includes your bank account name and number.
Time value of money is compensation for the use of money. This compensation is calculated using the Reserve Bank of New Zealand (RBNZ) 6-month deposit interest rate. The compensation amount is determined by applying this interest rate to the refund/credit amount on a monthly basis for the relevant refund/credit period.
The relevant refund/credit period is the time between the date the premium was first overpaid until the date we calculate the credit or refund.
The policyholder will receive the refund. If you’re entitled to a refund, you can nominate any New Zealand bank account in the policyholder’s name. You’ll have to let us know which bank account you would like the refund paid into if it’s a different bank account to what we have in our records.
It depends on how your premium is paid. If you’re a private member, or a member of a work scheme that allows for premiums to be paid by direct debit or credit card, then a credit will be applied to your policy to be used on your next premium payment. If you’re a member of a work scheme that takes premium payment from your salary or wages, then a refund of overpaid premium is the simplest way to return the overpayment. This is due to system limitations when it comes to work schemes with wage/salary deduction premium payments.
We’ve identified that due to an error on our part, some of our members, both past and present, may have overpaid their premium.
We’re currently in the process of contacting our affected members so we’re able to credit or refund the overpaid premium as well as provide compensation in the form of ‘time value of money’.
If you’re entitled to a refund or premium credit, you’ll receive an email or letter from us to confirm next steps:
If you’re dissatisfied with the service provided by or on behalf of Southern Cross, you can raise your concern directly by:
We’ll acknowledge receipt of your complaint within two working days of the date we receive it (or if it is not practicable to do so, as soon as practicable after that time). We’ll aim to resolve your concerns in a transparent and timely manner and we’ll keep you informed of our progress.
So that we can best address your complaint, we may refer your complaint to different teams within Southern Cross. We will respond to you with the outcome of our investigation in a timely, fair and transparent way.
If you’re unhappy with our response, you can request that your complaint be reviewed by the Chief Operating Officer of Southern Cross. The Chief Operating Officer will review and make a final determination in respect of your complaint, which will be communicated to you as soon as possible.
We belong to the Insurance and Financial Services Ombudsman’s approved dispute resolution scheme (IFSO). The IFSO Scheme is a free and independent dispute resolution service available to consumers that may help investigate or resolve complaints if not able to be resolved through our internal complaints process.
If your complaint has been fully investigated by us and you’re still not satisfied with the outcome, you can refer your complaint to the IFSO for review.
You can contact the IFSO Scheme on 0800 888 202, email at [email protected] or www.ifso.nz.
Alternatively, you can write to: Insurance and Financial Services Ombudsman, PO Box 10845, Wellington 6143.
Southern Cross and its nominated representatives are bound by the duties set out in the Financial Markets Conduct Act 2013 to:
This statement was prepared on 1 July 2021.
Southern Cross Medical Care Society (trading as Southern Cross Health Society), Level 1, Te Kupenga, 155 Fanshawe Street, Auckland City 1010. Phone: 0800 800 181.
Southern Cross Medical Care Society (trading as Southern Cross Health Society) is a licensed insurer and a licensed financial advice provider. For more information about the financial advice service we provide and a copy of our public disclosure statement please visit southerncross.co.nz/disclosure-statement.
Southern Cross Medical Care Society (trading as Southern Cross Health Society) has an A+ (Strong) financial strength rating given by Standard & Poor’s (Australia) Pty Limited. The rating scale is: AAA (Extremely Strong), AA (Very Strong), A (Strong), BBB (Good), BB (Marginal), B (Weak), CCC (Very Weak), CC (Extremely Weak), SD or D (Selective Default or Default). Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. Full details of the rating scale are available at www.spglobal.com/ratings/en/about/intro-to-credit-ratings. Standard & Poor’s is an approved rating agency under the Insurance (Prudential Supervision) Act 2010.
