Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the availability, affordability and terms of insurance for people (a) diagnosed with sickle cell disease and (b) carrying the sickle cell trait.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

The government has not made a specific assessment regarding insurance for individuals with sickle cell disease. However, the government recognises the important role of insurance products in building the financial resilience of consumers and protecting them when things go wrong. The government’s Financial Inclusion Strategy seeks to close gaps in protection and ensure that the insurance sector is well-placed to support the financial wellbeing of households and vulnerable customers.

The Equality Act 2010 generally prohibits discrimination based on certain personal characteristics. However, the law accepts that some exceptions, relating to age and disability, apply for insurance. The Act stipulates an insurance provider cannot refuse to cover potential consumers or charge more for insurance as a result of these characteristics, unless they base their risk assessment on relevant information from a reliable source and (in the case of the disability exception) it is reasonable for the insurer to refuse cover or charge more.

However, the Financial Conduct Authority, as the independent regulator, requires firms to ensure their products offer fair value. The FCA has been clear that it will be monitoring firms, and, where necessary, it will take action.

Since 2021, the FCA has required firms providing travel insurance to signpost consumers with pre-existing medical conditions to a directory of specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on a pre-existing medical condition.