United Kingdom to comply with insurance gender rating ruling from the European Union

The United Kingdom has announced that it will be complying with an insurance ruling coming from the European Court of Justice, the judicial arm of the European Union. The rule bans European insurance companies from imposing gender-sensitive premiums and benefits. This has drawn the opposition of insurers, who argue that premiums are determined by a multitude of complex factors and that limiting their ability to calculate premiums accurately would result in pricing that is either too high or too low for risk. Despite the opposition, the rule will be enforced…

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U.K. regulators claim aggregators putting consumers at risk

Insurance regulators in the United Kingdom have found some problems with several online insurance quote aggregators, raising concerns as to whether the companies responsible for these websites were treating customers fairly. The Financial Services Authority has found instances of compliance failure with websites dealing in home and auto insurance. The regulatory group has been reviewing this particular sector of the insurance industry for several months now in an attempt to curtail fraud. So far, 19 companies have been found as failing to adhere to regulatory rules. Investigators reportedly discovered failures…

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