Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department has made an assessment of trends in the level of the cost of travel insurance abroad for people diagnosed with cancer.

Insurers make commercial decisions about the terms on which they will offer cover following an assessment of the relevant risks. For example, the existence of pre-existing medical conditions may represent an increased risk.

However, the Government is determined that insurers should treat customers fairly and firms are required to do so under Financial Conduct Authority (FCA) rules. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive). The FCA is clear that it monitors firms to ensure they provide products that are fair value, and, where necessary, it will take action.

It is worth noting that different insurers may take a different view of the relevant factors in determining the price of insurance based on their differing claims experience. Since some specialist travel insurers may be more equipped to provide cover for consumers with pre-existing medical conditions, the government would encourage consumers to shop around for the most suitable cover at the best price.

To support consumers in accessing travel insurance, the FCA also requires travel insurers to signpost consumers to a directory of specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical conditions.