@Catherine-Powell thank you for your detailed explanation of the FAQ.
It sounds fair. On the paper.
But, we have heard about CS rep calling the host in the middle of the night and if the host doesn't answer the call, CS issues the refund immediately. The host wakes up in the morning and finds out the reservation is canceled and a refund is given while he was asleep. Airbnb CS reps should not only call the host but also try to reach him through the message or email and give him a chance to respond within at least 10 hours.
I just hope every CS rep will be educated about this VERY IMPORTANT new policy because we all know how often they tend to misinterpret Airbnb policies.
To stay on the safe side, all hosts should immediately bookmark this link https://www.airbnb.com/resources/hosting-homes/a/details-about-the-guest-rebooking-and-refund-policy... provided by @Catherine-Powell so they can present it to CS rep if needed.
AND ONE MORE, VERY IMPORTANT ISSUE
Why there are so many superhosts (!) with perfect ratings, lately often being suspended without any questions asked and without giving any explanation or timeframe of suspension?
Are you aware that every new guest, without previous reviews, and without ID verification can falsy accuse his host of basically anything, without any proof, and cause the host's suspension and cancelation of all future bookings?
It happens on the daily basis, @Catherine-Powell just browse this CC.