Question asked in the House of Lords regarding the industry code of practice for health insurers
On 16 August Lord Crisp (the former Permanent Secretary for Health and the Chief Executive of the NHS), asked a question in the House of Lords:
16/08 – House of Lords – Written Answers: Health: Cancer
Lord Crisp: To ask Her Majesty’s Government whether they will review the industry code of practice and the arrangements for oversight by the Financial Services Authority and Financial Ombudsman Service of health insurers who cease to cover certain cancer patients’ treatment even though their doctor advises that they would still benefit from the same treatment.
The Commercial Secretary to the Treasury (Lord Sassoon): The Financial Services Authority (FSA) is responsible for regulation of insurance companies. The FSA reviewed the private medical insurance market, along with other non-investment insurance products, when revising its Insurance Conduct of Business Rules in 2008. The FSA undertakes ongoing monitoring to ensure compliance with its rules, and industry codes and guidance must have regard to FSA principles of treating customers fairly.