Auto insurance could rise by as much as £500 for women in the EU

auto insurance premiums rise

Female drivers an life coverage policyholders could find that they are paying far more very soon. Starting on December 21, life and auto insurance companies in the European Union will no longer be permitted to use a policyholders gender as a factor in the calculations of his or her premiums. On Friday, those insurers that have not already changed their rules will be required to do so. This means that women who have life or auto insurance coverage will likely find themselves paying over £500 more per year for the…

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Europe establishes guidelines for interpretation of insurance gender pricing regulation

The European Union has now established a set of guidelines that are designed to provide insurers with some assistance with the interpretation of a ruling made by the EU court that states that it is no longer permitted for insurance companies to use gender as a factor for calculating the premiums that will be paid for various forms of coverage. The insurance industry has heavily criticized the ruling, which reversed years of traditional practice by insurers who have used gender as a part of their formulas for determining product pricing…

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