Insurers have hit back at a Sunday Times exposé earlier this year that claimed thousands of people with private medical insurance (PMI) were wasting their money and should invest the premiums and pay for treatment themselves.

The article claims health insurers are exploiting the crisis in the NHS, where more than a million patients are waiting for operations.

Insurers said the article was missing the point of insurance and brought attention to the fact that operations such as heart procedures actually cost a lot of money.