Abandonment Refund Process
After an event is abandoned, information and a number of reports are requested from an event in order to process refunds.
Once this information is received by BE, it is necessary to reconcile this information to ensure that claims submitted are complete and accurate. Depending on how well this reconciliation occurs can have a significant impact on the speed at which a claim is submitted.
When all the information is received and the accuracy verified, the claim is submitted to insurers via KBIS (the Broker). Depending on the resources at the underwriters, the claim is normally processed within a week by the insurers but if there are a large number at the same time, it is not unreasonable for this to be a little longer. Upon receiving this confirmation that the claim has been accepted, one of two things will occur depending on who the internet entry provider was.
- If it was BDWP, then BE transfers the appropriate amount of money to BDWP to allow them to refund the entry fee back to the card on which the entry was made. BDWP normally process the refunds within a day or so of receiving the money from BE. If you have completed the e-mail address box when making the original entry, BDWP will email you advising that a refund has been made.
- If they were via the BE entry system, BE will process the refund and an e-mail will be sent advising that the refund has been made.
As soon as the refund has been made, either by BDWP or BE, the refund is in the banking process and can sometimes take up to five days to appear in an account. This process can take as long as three to four weeks in total however we always aim to refund members as quickly as possible and update members regularly on the website with the status of pending refunds following event abandonment.