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EU Decision Delivered

So the decision has been made that it is sexual discrimination to rate insurance policies on gender.

There will be endless column inches written on this and comment from both sides. Whatever the rights and wrongs, it will not be seen as good PR for the insurance industry and will further degrade most peoples opinion of insurance in general. Whilst the statistics back up that a female driver is less likely to have an accident than their male counterpart, and it will cost less, the conversation I had with Aviva, the UK's largest insurer, last year sticks in my mind. They introduced a new rating factor last year which was credit reference based. If you have a good credit score, you will get a lower premium. This was based on US modelling and seemed to override all other considerations. It may be that the gender argument was becoming yesterdays news before this ruling?

Posted On 1 March 2011 | 0 Comments