23 April 2012
The Association of British Insurers (ABI) has warned a European
ruling banning gender pricing in insurance could open the door for
similar legislation on age and disability discrimination.
In March last year, the European Court of Justice ruled gender
pricing for insurance products will be banned from December 21,
2012. The decision will affect the way insurers price
annuities, life insurance, income protection and critical-illness
cover.
Stephen Gay of the ABI thinks there is a risk that the judgement
will be taken into other areas such as disability or age, which
could have far-reaching effects on critical illness and life
insurance.
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