News of the World: Money Saving Expert on EU Gender Case

Our weekly column in the Irish News of the World is here. This week we looked at the EU gender directive case that was to be heard today  and news is just in that it passed.

This is interesting as it means that in the future that insurance companies will not be able to price people according to their sex, they will have to use other methods. This is interesting, many people accept that young males are ‘more risky’, but while this is statistically true it isn’t down to biology alone and for that reason they are saying you can’t use biology to underwrite, rather you will have to seek to pinpoint that risk and identify it then price it.

This is a big step forward as it will force insurance companies to get deeper into client information in order to price appropriately, equally it means young men won’t be paying insane car insurance premiums, young women can get more affordable income protection, both men and women now have options for the same level of pay in pensions, a good result all around – except for the bit that happens between now and when we get there, because it is likely that everybody will just pay more in the interim.

Post a Comment

Your email is never published nor shared. Required fields are marked *