Advice for customers on gender ruling for insurance
Insurers have published new guidance for consumers three months ahead of a European ban on taking gender into account when calculating policy premiums and benefits.
Insurers have published new guidance for consumers three months ahead of a European ban on taking gender into account when calculating policy premiums and benefits.
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A ruling by the European Court of Justice last year means that from December 21, insurers may no longer consider a customer's gender when calculating, insurance premiums or retirement incomes.
A person's sex has traditionally been taken into account when assessing insurance risks, with women typically benefiting from lower car insurance premiums due to their lower accident rates, and men tending to receive higher annuity rates due to their lower life expectancy.
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