European insurance stops using gender to determine rates

According to the main insurers’ lobby in Europe, the CEA, a new regulation will be causing european insurance customers to have to pay up to 30 percent more for their coverage. The regulation stops insurance companies from being able to charge different rates for men and women, and it will come into effect in 2012. On average, women will face the largest increases. According to the CEA, which was discussing the findings of research commissioned by the GDV, a German insurance industry association, women will on average be paying 30…

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Italy turns to the insurance industry to help with crippling debt crisis

Italy is on the verge of a financial meltdown, which may have dire ramifications for the global economy. Investors and financial institutions have begun casting doubt on Italy’s ability to survive a financial disaster, and now the government is turning to the insurance industry for help. Italian officials are looking to adopt disaster insurance to help mitigate the impact of a potential economic catastrophe. The country’s debt – more than $2 trillion – could mean that it is beyond rescue, even for the insurance industry. The insurance industry in Europe…

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