European ruling - unisex pricing? Reply to Thread
I suspect they can get by by adressing customers with their first name instead of a title if they have to. (Although I thought the ruling was just that gender couldn't be used as a rating factor - I don't see why they can't ask for your title.)
The effect is likely to be a redistribution of cost, rather than an overall increase, although there could be some increases in the short term due to increased uncertainty, and some increased admin costs etc.
I think the aim of the ECJ, isn't to make things more fair, but to make them 'more equal'. Unfortunately, the two don't always go toghether, as this case proves.
Also, nobody seems to have focused on the impact on the annuity market. If I want to buy an annuity for, say £50k a year when i'm 60, I would now need maybe £200k more in my pension pot to pay for it. (I made those numbers up, but I'd guess they're in the right ball park). That bothers me much more than a few extra quid to insure my car, and seems even more crazy than the motor pricing. Why is nobody mentioning this?
Last edited by a moderator: Mar 17, 2011