Change in EU Legislation / Law

Other_World

Hi all,

Although I don't drive any form of vehicle and thus don't need any insurance on these things, the ruling from the European courts will effect all forms of insurance.

Basically, by March 1st I believe it is, the courts will decide if it is illegal to discriminate sex in insurance, and it's looking very likely that they are going to rule in favour of imposing a rule stating you can't base insurance on sex.

*EDITED* Ok, to clear this up, does anyone know how big an impact this will have on insurance in the UK?

vaio

I'd have thought that if you have evidence showing different claims costs between the sexes then it's not discrimination to reflect that in the premiums.

Do you have a link to the case/legislation you are talking about?

Other_World

here's an online newspaper clipping from October: *blocked*

Haven't really looked around the web much for it, just aware that it's likely to happen.

As a new user, I'm not allowed to post links to prevent spamming, haha...

basically, it's just a newspaper article from the Independent say that it'll change the way insurance works and how it's rated.

The current court case is about pensions annuity, but it will impact all insurance types.

mikey72

If it's just across a brand, they can do what sheilas wheels do, and just target women.
No doubt companies that just target men will appear, or maybe just be left.
If it's across the entire industry, it'll mean womens car insurance will increase, you can't see them bringing mens down can you?

Other_World

It's across the entire insurance sector, if it comes into place (which as I said, looking quite likely) it'll mean you are no longer allowed to base insurance on gender based rules. For companies like Shielas wheels, I imaging it'd put them out of business or they'd need to allow male drivers to get insurance.

And I wasn't expecting them to bring male insurance down, I was expecting them to raise all insurance due to it now being unisex, as they surely won't simply "rate unisex as we did male", they'll try and chip some extra because of this surely?

*EDIT*Worth noting, this is my interpretation of how it will be forced into effect, as I obviously don't know the ins-and-outs of the whole case and it's subsequent effects to know the precise details.

mikey72

Sheilas wheels insure men. They just don't target them.
I agree the insurers will raise costs, not lower them though.

Other_World

See, me being never insured to drive, something I didn't know, haha...