the "book with confidence" rate has absolutely not my confidence either
In the last year, I had to cancel more or less ten reservations at the "book with confidence" rate and I have never been reimbursed automatically. Each time, I needed to call or mail the hotel to ask for refund.
And I am not the only one : see Hotel doesn't answer emails after cancellation of a flexible rate or Novotel LIsbon, problem with refund