Travel: Insurance:Written question - 12908

Q
(Leicester South)
Asked on: 05 February 2020
Treasury
Travel: Insurance
Commons
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that (a) comprehensive and (b) competitively priced travel insurance cover is available to people with mental health problems after the transition period ends.
A
Answered by: John Glen
Answered on: 13 February 2020

On Wednesday 5 February, the Financial Conduct Authority (FCA) published new rules and guidance to improve access to travel insurance for all consumers with medical conditions

Included within the FCA’s rules is a requirement for firms to signpost consumers to specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical condition.

In addition, the Government has legislated to ensure that all UK insurance policies with EU insurance companies can continue to be serviced by those EU companies after Brexit, notably with a Temporary Permissions Regime (TPR) for EEA firms currently passporting into the UK. This allows EU firms to continue operations in the UK for a time-limited period at the end of the transition period while they apply for full UK authorization, while the Financial Services Contracts Regime allows for the orderly wind down of the UK regulated activities of remaining firms who do not enter the TPR.

Grouped Questions: 12909 | 12910

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