BREAKING NEWS

BREAKING NEWS

Insurance rules gender-based premiums out

Now Reading:

Insurance rules gender-based premiums out

Text size Aa Aa

The European Court of Justice has ruled that insurers cannot charge different premiums to men and women because of their gender. The decision is likely to hit young women drivers because, contrary to popular opinion, up until now, having fewer accidents than them, they have paid lower premiums than men.

The ruling comes in response to a test case brought by Belgian consumer group Test-Achats which had argued that the existing rules contradicted EU principles of gender equality. The European Court of Justice agreed.

The ruling will not only affect driving insurance however. Retirement annuities are also likely to be affected because in the past they have been lower for men than for women, taking into account men’s shorter longevity.