Cancer: Medical Treatments
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the adequacy of the private medical insurance industry's coverage of treatment for patients with rare cancers.
Answered by Tulip Siddiq
The Financial Conduct Authority (FCA) is an independent body responsible for regulating and supervising the conduct of the financial services industry, including firms that provide private medical insurance.
The Government is determined that all insurers should treat consumers fairly and provide products that offer fair value, and firms are required to do so under FCA rules. Fair value means that the price a consumer pays for a product or service must be reasonable compared to the overall benefits they can expect to receive. The FCA has robust powers to act against firms that fail to comply with its rules.
Consumers who do not feel they have been treated fairly may be able to refer the matter to the Financial Ombudsman Service, an independent body set up to provide arbitration in such cases.
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