Jim Shannon – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Jim Shannon on 2014-06-04.

To ask Mr Chancellor of the Exchequer, if he will take steps to encourage insurance companies to set travel insurance premiums for the elderly based on their state of health rather than their age.

Andrea Leadsom

Insurers take into account a range of different factors when considering risk and decisions concerning the pricing of insurance products are a commercial matter for individual insurers. The Government does not seek to intervene in these decisions.

The insurance industry recognises that older people can face difficulties finding appropriate travel insurance and in 2012 signed an agreement, endorsed by the Government, to re-direct older customers to an alternative insurer or to a specialist insurance broker where they cannot provide insurance themselves.