This consultation sets out proposals to help consumers with pre-existing medical conditions (PEMCs) who can sometimes struggle to access affordable travel insurance that covers their medical conditions.
These proposals are seeking to introduce measures to help consumers better navigate the market and find firms that can offer travel insurance products that cover their PEMCs.
The consultation is seeking views on introducing a new ‘signposting’ rule, to provide consumers with details of a directory of travel insurance firms that have the appetite and capability to cover consumers with more serious PEMCs. Firms will be required to signpost consumers in the following circumstances:
In addition to signposting, the FCA will be working with stakeholders to try to improve consumer understanding of the travel insurance market, including producing material on PEMCs. This information will help consumers understand the implications of travelling with exclusions, and how factors such as country of travel can impact medical costs and therefore travel insurance premiums.
This consultation will be of interest to:
This consultation has now closed.
We will consider your feedback and intend to publish our rules in a Policy Statement.