People with long-standing health conditions will find it easier to get travel insurance after the Financial Conduct Authority said it would work with the industry to direct people to specialist cover.
The FCA says 15 million Brits have long-term health conditions and many are ‘marginalised’ by the travel insurance industry.
The number of people with long-term illnesses is expected to rise to 18 million in the next decade, the FCA said.
A report by the FCA focused particularly on people who have had cancer treatment. It found people still struggle to get insurance, despite being declared ‘cancer free’ following treatment.
Others reported problems such as a lack of information about alternative cover after being given expensive quotes or refused cover.
There is also a lack of understanding among insurance companies and their customers about what risks are considered when setting prices.
The FCA also found insurance premiums were not clearly priced.
Some of those who faced difficulties found frontline insurance staff had little understanding of health conditions.
