Wednesday, March 2, 2011
EU Insurance Ruling: More Pain for Women?
Wall Street Journal
March 1, 2011
To all women out there: Which would you rather have – cheaper or more expensive car insurance? Or if I can sharpen the question a bit, would you pay more for car insurance in the name of the struggle against gender discrimination?
Well, today, the European Court of Justice has answered that for you.
The EU’s highest court declared illegal the widespread practice of charging men and women different rates for insurance, in a major decision which would overhaul the pricing of insurance policies across Europe.
Generally, insurers charge cheaper life and car insurance premiums to women because statistics show that women live longer and cause less car accidents.
But no, the ECJ said that’s gender discrimination and it needs to end by Dec 12, 2012. That means, ladies, you’ll have to get ready for more expensive premiums.
Posted by Yulie Foka at 3:58 AM