Charity urges FCA investigation into insurer's treatment of mental heath

Pricing and transparency concerns

John Brazier
clock • 4 min read

The Money and Mental Health Policy Institute (MMH) has called on the Financial Conduct Authority (FCA) to urgently investigate whether insurance providers are breaking the law over the treatment of people with mental health disorders.

The charity, founded by MoneySavingExpert's Martin Lewis, conducted a research project, funded by a grant from the Which? Fund, which found consumers with mental health problems face the prospect of "sky high" premiums, reduced levels of cover or being refused entirely when dealing with life and income protection providers. The findings, published today (8 February) in the Written Off report, uncovered experiences of MMH community members being subjected to "eye watering" premiums that are leaving consumers unable to afford their insurance or facing the prospect of going without cover. ...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Financial resilience is slowly improving for adults: LV=

Financial resilience is slowly improving for adults: LV=

59% of adults described their situation as comfortable

Jaskeet Briah
clock 16 February 2024 • 2 min read
Only 5% of people would speak to an adviser about costs of later-life care

Only 5% of people would speak to an adviser about costs of later-life care

18-34 year-olds were 50% more likely to want cover

Jaskeet Briah
clock 15 February 2024 • 2 min read
Provider satisfaction dropped 8% in 2023

Provider satisfaction dropped 8% in 2023

According to a report by Defaqto

Cameron Roberts
clock 15 February 2024 • 4 min read