Yet another directive from those wonderful folk in the EU.
Once again singing the equality song.
The only equal element in this is that we will all equally have to pay more.
Once upon a time market forces drove costs and in the insurance markets it was risk that determined cost. So what if the insurance companies gave discounts to certain groups of people the underlying driver was the amount of risk. But not any more.
Thanks to Frau Kokott, an advocate-general at the European Court of Justice (ECJ) in Luxembourg, the risk element has just been removed in the rush to ensure equality. No longer can gender be taken into account by insurance companies when determining the premiums that we will be asked to pay.
For example “Experts estimate that, from the age of 17 until they’re 25, British women drivers will pay an extra £4,300. On the other hand, male pensioners who get a higher annuity than women, because they do not live as long, will be left significantly out-of-pocket because their rates will be slashed to bring them into line.”
Follow the link below for more commentary from Philip Johnston of the Telegraph
WrAnTz 