Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the quality of private medical insurance, including the degree to which pre-existing and chronic conditions are covered, and whether they consider the regulation of such insurance to be adequate.

The Financial Conduct Authority (FCA) is the independent body responsible for regulating and supervising the financial services industry, including firms providing private medical insurance.

The Government is determined that all insurers should treat consumers fairly and provide products that offer fair value, and firms are required to do so under FCA rules. Fair value 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.

Consumers who do not feel they have been treated fairly may be able to refer the matter to the Financial Ombudsman Service, an independent body set up to provide arbitration in such cases.