Do You Agree That The EU Judges Should Not Have Power To Regulate UK Insurance Laws?
| Related: | Personal Finance•Insurance•Car Insurance |
I don't think it is niether right or just that European judges should 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 payouts on the basis of a policyholder's sex.
Research shows this will make car insurance much more costly for young women, and cut retirement annuities for men by up to 8 per cent.
Once they have ruled that young women should pay more in the name of equality this will inevitably mean increased insurance costs for consumers taken as a whole, but particularly to women drivers.
Surely, cost of insurance should be based on the sole merits of the individual driver, male or female.
Responses (3)
No, CS I don't believe the EU Judges should have any such authority.
As a female driver with an immaculate record I will be deeply resntful if my premium rises to pay for the accidents of young male drivers.
Ooh me too Feline.
BUT then again I do hear the cries of sexism amongst our male driver friends here.
So maybe I'm swaying towards cs's thoughts of insuring on the merits of the individual driver, it would seem fairer.
I look forward to more input from the others on this one.
BTW Good question cs.
Ha, it's not sexism, Lillie - it's 'accidentism'!
But yes, you're right, it should be based on individual merits. We might lose out on the life insurance front though if we have to tell them how much gin we drink!
Oh that would never do, I wouldn't dream of incriminating myself,lol.
That brings a whole new meaning to 'Pleading the Fifth', Lillie. Now it will mean 'Pleading the Fifth G & T'!
Slurp, hic, now where's that bloody cooker before Mr F comes home needing his tea?
Steady there girl, easy does it, deep breaths and hold tight.
My guess the cooker is somewhere in the kitchen?
Yes, just as I thought. The result was in a few hours ago. European judges have outlawed the setting of insurance premiums based on gender in a landmark case, although the ruling will not be applied until the end of 2012.
Good info CS, thanks.
Found it, Lillie, under a heap of crap and fortunately remembered to get chicken out of freezer this morning. Love the new hat BTW!
Does this mean the demise of 'Sheila's Wheels' who appear to target all their advertising at women? If it means an end to their adverts, I believe the European Union is doing us a great service!!
In truth, those applying for insurance should have their premiums based upon their individual record as opposed to generalisations or actuarial risk assessments. I have a full and clean driving record with no claims ever having been made and yet year on year my insurance cost increased considerably.
Been wondering about Sheilas Wheels myself. They'll be making Barber's shops charge the same as ladies' salons next. Ridiculous!!!!!!!!!
Posts within the money.co.uk community represent the views, experiences and opinions of members only. They should not be taken as financial advice and should not be followed without further research.
More Discussions for Car Insurance
Get fast answers to your money questions, Expert insight, top tips & much more...
