Refund Policy

General Refund Policy

1. Our Commitment:
   At ALBATEK Insurance Company, we are dedicated to providing transparent, fair, and efficient refund processes for our valued customers in compliance with Iraqi regulations.
2. Eligibility for Refunds:
   Refunds are available under the following circumstances:
   • Cancellation of an active insurance policy during the cooling-off period, and no claims have been made, a refund will be provided on a pro-rata basis, meaning the unused portion of the premium will be refunded based on the remaining coverage period. (e.g., 14 days after purchase), as per the guidelines of the Iraqi Insurance Diwan (IID).
   • Duplicate payments or overpayments.
   • Errors in payment processing.
   • Important: If a claim has been made under the policy, no refund will be applicable, regardless of the remaining term
3. Refund Currency:
   All refunds will be issued in Iraqi dinars (IQD), unless otherwise agreed upon during the refund process.
4. How to Request a Refund:
   To initiate the refund process, please contact our customer service team:
   • Email: support@albatek.iq
   • Phone: +964-6516
   • Office Address: No.32, 11th Alley, Quarter 602, near Bilal Mosque, Al- Qadisiya entrance Ave, Qahtan Sq – Baghdad – Al-Qadisiya – IRAQ
   • Kindly provide your policy number, payment details, and reason for the refund request.
5. Processing Time:
   Refund requests will be reviewed promptly. Approved refunds are typically processed within 10 business days of approval.
6. Fees and Deductions:
   In some cases, administrative fees may apply. If deductions are required, we will inform you before processing the refund.
7. Limitations:
   Refunds may not be applicable if the policy has been activated and services utilized, or if specific terms outlined in your policy contract.
8. Compliance Statement:
   This refund policy adheres to the rules and regulations set forth by the Iraqi Insurance Diwan (IID) under Order No. 10 of 2005 for Regulating the Insurance Business.
9. Language Accessibility:
   This policy is available in Arabic and Kurdish to ensure accessibility for all our customers.
10. Contact Us:
    If you have any questions or require assistance, please reach out to us using the contact details provided above.