Now the ruling has come into force, insurance industry experts say that premiums for young women drivers could see an increase of up to 25 %. The change doesn’t just affect motoring, because the cost of life insurance for women is also set to rise.
Mar 01, 2011 · Insurers shouldn’t be allowed to take gender into consideration when calculating premiums, the European Union’s highest court said in a ruling that is likely to increase the price of insurance.
Following the ruling, the ABI estimated that men could see a 10% fall in costs, while women’s rates could rise by as much as 20%. Again, the industry may only settle down a few weeks after the ruling.
European judges are expected to pass an equality ruling tomorrow that could cost British taxpayers almost £1billion. They are poised to make it illegal to assess insurance premiums and pension.
In just a few days time there is going to be big changes to how insurance premiums are calculated. Up until now, young women (in particular) have typically been able to get cheaper insurance premiums than their male counterparts, but that will no longer be the case following the EU Directive on gender equalisation.The ruling is a game-changer and means insurance.
Car insurance gender gap GROWS since EU equality directive – www.motoringresearch.com. Car insurers have not been allowed to use gender as a factor in car insurance premiums since December 2012, as part of the EU Gender Directive – but comparethemarket.com has discovered the gender gap has widened nearly 8.
The result of the EU gender ruling is that women’s insurance prices will go up and men’s will come down. The younger the driver, the bigger the price swing they’ll experience, but for young women.
Cheap car insurance for women. Insurers are no longer allowed to take gender into account when quoting the cost of car insurance, thanks to a European Court of Justice (ECJ) ruling that was enforced in 2012.
In Britain, the premium paid by women under the age of 25 for car insurance could rise by an average 25 percent, the association said. The life insurance paid by women could rise as much as 20 percent while men could pay 10 percent less, the group said.
The three associations insisted that the claims made by insurance companies that costs would rise across the board, for both women and men, as a result of the ruling are illogical and unfounded.
E.U. Court to Insurers: Stop Making Men Pay More – TIME – In a ruling issued on Tuesday, the Luxembourg-based European Court of Justice, the European Union’s top court, banned insurance companies from using gender as a way to work out premiums. The case was brought by a Belgian consumer group which challenged differential pricing for men and women.
The European Union’s highest court barred the insurance industry from charging different rates for men and women, saying the widespread practice amounts to sex discrimination against millions.
Car insurance for young women set to soar under EU ruling Posted on March 9, 2012 by Luke The Labour Party revealed statistics from the Treasury this week, warning that female driver premiums will increase by £362 on average at the end of this year.
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Effects of the EU Gender Directive on Motor Insurance, Life Insurance & Annuities. Government estimates suggest women’s car insurance premiums could rise by up to 24 per cent for females aged 17 to 25, affected by the gender ruling. • As premiums for life insurance are hugely dependent on age (the primary
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