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FCA to examine travel insurance for cancer patients

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20/06/2017
The finance watchdog is investigating whether cancer patients are treated fairly when buying travel insurance.

The Financial Conduct Authority (FCA) is seeking views and evidence of the challenges firms face in providing travel insurance for consumers who have, or have had, cancer, and the challenges for these consumers in accessing insurance.

It is also looking at the reasons for pricing differences in premiums quoted.

Christopher Woolard, executive director of strategy and competition at the FCA, said: “Being able to access financial services is critical for people to fully participate in society. We hope that this will encourage discussion on access issues to examine the challenges for firms and consumers.

“Given our previous findings in this area, we see this as a critical time to fully explore these issues and consider potential solutions.”

The regulator is seeking input on the challenges for firms in providing travel insurance for consumers who have, or have had, cancer.

It also wants to hear from consumers about the challenges they have, or have had, in finding suitable travel insurance.

The FCA said it wants “to understand how consumer outcomes can be improved in this area, including through innovation”.

It hopes the findings will read across to many other pre-existing medical conditions and insurance products.

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