In general airlines are not obliged to give a refund if you cancel voluntarily, whatever the reason. It is true that some airlines do offer refunds voluntarily under circumstances like this. British Airways is unlikely to do this because it would imply that they believed traveling to Britain was dangerous, something they are unlikely to say.
Even if there is official advice to not travel to a country, airlines rarely offer refunds if they are still flying there. Your travel insurance would normally what pays out under those circumstances.
It is not unheard of. There is some precedence for this, although typically initiated as a courtesy by the airlines.
Amid Terror Threat, Can I Call Off My Trip to Europe?
After the attacks, American Airlines, Delta Air Lines and United
Airlines waived some change fees for flights to France for a limited
time. They didn’t offer refunds, except for canceled flights, and
there’s no assurance that they will waive change fees for a future
attack.
American Airlines canceled flight 751 from Brussels to Philadelphia
and said it would make new arrangements for those travelers. The
airline reported no injuries to its workers. American is offering
alternative travel plans for passengers booked Tuesday and Wednesday
to request a refund, choose another airport or reschedule their flight
through April 5.
Credit:stackoverflow.com‘
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