Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to help improve access to travel insurance for patients with long-term illnesses.

The government is determined that everyone has access to suitable insurance products at the right price.

The Financial Conduct Authority (FCA) is the independent body responsible for regulating and supervising the financial services industry, including firms providing travel insurance. Under FCA rules, insurers must offer products that provide fair value. This means that the price a consumer pays for a product or service must be reasonable compared to the overall benefits they can expect to receive. The FCA has robust powers to act against firms that fail to comply with its rules.

Under FCA rules introduced in 2021, if a travel insurance customer is declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical condition, insurers are required to signpost consumers to a directory of specialist providers who may be better placed to provide cover.