There are significant issues around consumers with underlying health conditions not being able to access travel insurance.
This is according to Matt Brewis, partner in the financial services consulting practice at KPMG and former director of insurance at the Financial Conduct Authority (FCA) (pictured), who was providing evidence to the House of Lords Financial Services Committee earlier today.
While Brewis maintained travel insurance works well for customers who not have any underlying health conditions, the same could not be said for those that do.
“I think there are significant issues around the availability of the product for others who do,” Brewis said.
“And in a world where we are living longer, and with diseases, actually understanding how products and expertise is developed to work for consumers, that’s probably an area where more work needs to be done, and is being done, by insurers and regulators to understand.”