Traditional PMI is doing nothing to help financially squeezed consumers, Passport2Health has said.
Chief executive of the overseas treatment PMI provider Frank Levene has responded to Bupa's warning that the PMI market is nearing an affordability crunch.
He said: "Household finances have come under pressure from the rising cost of living, while premiums have continued to soar. This has resulted in many people being priced out of the PMI market.
"Providers need to start thinking more creatively about their offering and how they cater to customers' needs, or cut their prices. As well as the individual, the corporate arena could also benefit by considering its PMI offering."
