Author Topic: News: Ban on using gender to rate insurance "ridiculous"  (Read 112580 times)

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Offline ClubCalibra

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News: Ban on using gender to rate insurance "ridiculous"
« on: February 17, 2011, 19:19:13 PM »
We believe that this news article might be an interesting discussion point for you guys:

A leading insurance broker has described impending European legislation to ban insurers from using gender to rate premiums as "ridiculous"?.

Two European Court of Justice judges could ban gender discrimination in pricing insurance on March 1, leading to huge hikes in premiums, particularly for women.

But Gerry Bucke, general manager at Adrian Flux Insurance Services, said the new rules would not significantly benefit male drivers, but could see young women paying up to ?1000 a year more.

"If people think that insurance companies will bring premiums for male drivers down to meet those for female drivers in the middle they are likely to be disappointed" he added.

"Despite the hefty increases in premiums we are seeing, there is no profit in the UK car insurance market, and insurers are unlikely to reduce premiums for young men in the long run."

Last year, analysts Tower Watson said that the UK motor insurance market would not be profitable until 2015 at the earliest, partly because of an estimated 30,000 annual fraudulent claims.

Mr Bucke is backed up by the Association of British Insurers (ABI), which says that if the initial decision is upheld it would be "extremely detrimental to UK consumers".

A 2004 EU directive allowing insurers to use gender to rate premiums if they were backed by statistical evidence was successfully challenged last year, leading to next month's crucial appeal.

Mr Bucke revealed that some insurers had already asked for the question of gender to be removed from the quotation process in anticipation of the ruling.

"It's ridiculous really"? he said. "Insurance is a discriminatory business where people pay the appropriate premium based on the risk of claims they represent.

"It's a fact that, for a variety of reasons, male drivers cost insurance companies more than women, just as younger drivers represent a greater risk, or those with a string of motoring offences or a bad claims record."

Young men are twice as likely to claim on their insurance policy than young women, while they are 10 times more likely to have a road accident involving serious injury, which is where the most costly claims occur.
 
"You have to wonder where it will stop"? said Mr Bucke. "Will a 50-year-old end up having to pay the same as a 17-year-old who claims age discrimination? Usually gender discrimination issues are, quite rightly, about giving women equal rights or equal earnings. But this will be unwelcome form of equality for women."

Insurers may attempt to use alternative risk factors as a proxy for gender, such as occupation, vehicle type or even their first name, while attempting to steer clear of indirect discrimination.

Mr Bucke said that, with only a handful of insurers prepared to offer cover for young drivers, it was more important than ever for younger motorists to shop around.

"With premiums for young women expected to reach the ?2,000 mark, it will pay for them to check specialist brokers and not just the comparison websites" he added.

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Offline Dajanitor

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Re: News: Ban on using gender to rate insurance
« Reply #1 on: February 17, 2011, 19:53:57 PM »
As long as my insurance doesnt go up, then yes i agree.

They want equality then they should get it in all forms.

Not pick and choose. I know women who are just as bad drivers if not worse then the men i know.

Hell, most of em take the piss when it snows too, over-exaggeration of safety, and dont bother paying much attention,
just as much as men.

Offline ALZ1307

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Re: News: Ban on using gender to rate insurance
« Reply #2 on: February 17, 2011, 20:15:34 PM »
Gender shouln't matter in anything, hopefully someone somewhere will take note and adjust salary's in the same way? Plenty of men do the same work as women and get paid more! Back on topic :) let them carry on, basing insurance on age gender what ever is ridiculas! Bring in a standard rate for years of driving experience for every one, that way I'm fairly sure more would actually be able to afford and have insurance. The premiums young drivers have to pay are absurd frankly!
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Re: News: Ban on using gender to rate insurance
« Reply #3 on: February 17, 2011, 20:24:08 PM »
Gender shouln't matter in anything, hopefully someone somewhere will take note and adjust salary's in the same way? Plenty of men do the same work as women and get paid more! Back on topic :) let them carry on, basing insurance on age gender what ever is ridiculas! Bring in a standard rate for years of driving experience for every one, that way I'm fairly sure more would actually be able to afford and have insurance. The premiums young drivers have to pay are absurd frankly!

+1

my mrs is in her 1st year of driving (on my insurance on the gt) it runs out on june 24th so wanna get her a car for herself by then cos she will have 1 years no claims but i bet its still gonna be sky high for her

Offline Bad Kid

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Re: News: Ban on using gender to rate insurance
« Reply #4 on: February 17, 2011, 20:57:32 PM »
If you take the insurance companies approach of setting premiums based on statistical risk, then it's ok to do the following:

1) Hire more male staff, because they are statistically less likely to get pregnant and have a few months off work
2) Hire more female staff, because they are less chance of being rapists or paedophiles
3) Refuse to hire people in wheelchairs, as they are statistically more likely to cause an obstruction during a fire evacuation than an able bodied person
4) Refuse to hire black people to work on the highways, as their skin tone makes them harder to see at night, LMFAO

Statistically you can find reasons to discriminate against most groups. It's awesome.
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Offline DanSE4

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Re: News: Ban on using gender to rate insurance
« Reply #5 on: February 17, 2011, 21:19:16 PM »
I stopped reading at the point the European Court of Justice were mentioned.

On the news the other day was that, according to the European Courts, sex offenders should have the right to have themselves removed from the sex offenders register as it is a breach of thier "human rights".

The coalition government is considering making moves to have the UK removed from the dictatorship of the European Courts & that, I have to say, is the only f*cking thing they've ever said that I actually agree with!
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Offline Bad Kid

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Re: News: Ban on using gender to rate insurance
« Reply #6 on: February 17, 2011, 21:22:46 PM »
The coalition government is considering making moves to have the UK removed from the dictatorship of the European Courts & that, I have to say, is the only f*cking thing they've ever said that I actually agree with!

So you dont agree with things like the cap on maximum benefit claims per family?

Just about every week I read something that Cameron is doing that makes a lot of common sense. I wouldn't say im a die-hard tory, but 90% of what they do seems like the right thing compared to Labour.
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Offline DanSE4

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Re: News: Ban on using gender to rate insurance
« Reply #7 on: February 17, 2011, 21:27:07 PM »
[quote author=Bad Kid
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Offline Bad Kid

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Re: News: Ban on using gender to rate insurance
« Reply #8 on: February 17, 2011, 21:29:38 PM »
Fair comment, I'm kind of still in the mode, that impressed me yesterday, which was ditch the European Courts dictacting the UK's law so anything else has kind of been brushed under the carpet in my mind.

I'd rather see that sorted first, benefit scroungers second.

I totally agree.

IMO we should go one step further, and be in the EU in terms of trading and finances (including the euro), but out of it altogether for legalities.

We've been doing fine for centuries setting our own laws.
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Offline DanSE4

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Re: News: Ban on using gender to rate insurance
« Reply #9 on: February 17, 2011, 21:37:32 PM »
Better still, all our sponging tax drainers either get an income or f*ck off to France!

Dear European Courts,

That's our offer, do you want our wasters in another EU country or will you f*ck off & leave us alone so that we can publically flog them all?

Lots of Love.

The UK.
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Offline Bad Kid

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Re: News: Ban on using gender to rate insurance
« Reply #10 on: February 17, 2011, 21:39:25 PM »
Don't worry. Our mate Dave is on the case :) He is already making plans to destroy the benefit scroungers (and probably most of the working class with them)
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Offline DanSE4

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Re: News: Ban on using gender to rate insurance
« Reply #11 on: February 17, 2011, 21:53:19 PM »
Dave's no particular mate of mine.

Destroy the scroungers, yes but the statement "working class" includes those in lower jobs, perhaps through lack of good education or raised in deprived areas, but many of those included in that genre are hard working tax payers who do what they can to support thier families. There's a very fine line but also a big difference within our social segregations that all fall into the "working class" catagory.

Unfortunately, it is often overlooked that the spongers & those who genuinely try to make the best of what they can do are very different things.
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Bovva

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Re: News: Ban on using gender to rate insurance
« Reply #12 on: February 17, 2011, 22:39:54 PM »
I hate biased statistics, yes more men claim than women but i'd be interested to see how many accidents were CAUSED by women along with how many men are there to women on the roads?

I was getting reneweal quotes about

Offline Beafy

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Re: News: Ban on using gender to rate insurance
« Reply #13 on: February 20, 2011, 14:18:52 PM »
I feel seriously strongly about this topic, as my birthday is well... 2 days away :)

And as I've been waiting for YEARS to drive and I decided to have the calibra as a first car I joined this website.
I looked around the insurers websites and comparison sites, the cheapest insurance for me with 1000 squids
Excess was 8000+ Its ridiculous, so I'm having to go on my mothers, not build no claims for 2200 a year.
Even though 2.2K is not that much compared to the 8 Grand bounty they wanted to slap on to my car, it still
pisses me off how criminal they charge.

Thus is why so many un-insured young drivers there are around these days.

Also any body know of any good insurer I can build up no claims on for about 2G would be MUCH appreciated :)

Bovva

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Re: News: Ban on using gender to rate insurance
« Reply #14 on: February 20, 2011, 15:26:04 PM »
All I can suggest is that you do a pass plus, garage the car, fit a recognised alarm and just bite the bullet on your own policy. You need the no claims if you ever wan't to start seeing a decent drop in your premium.