The European Court of Justice today ruled that “Taking the gender of the insured individual into account as a risk factor in insurance contracts constitutes discrimination”. This means that insurance companies cannot charge women less for their insurance policies than men of the same age & background.
This is another example of unreasonable and unacceptable interference by an EU organisation. It will not only lead to higher motor insurance for women but also to higher premiums for health insurance and other policies. All these types of insurance use “risk weighing” they asses the risk of a particular demographic group actually claiming on their policy and set the premium accordingly. It’s as fair as insurance can be.
Not so says the ECJ, everyone should be treated equal and pay the same premium. Well here’s a bit of truth for the bureaucrats in the EU; people are not equal, nor are their behaviour or risk patterns. That’s why we had different policies. And as anyone who has ever dealt with an insurance company can tell you, if they could reasonable have charged more they would have.
So instead of letting the perfectly functioning free market mechanisms do their work the ECJ now makes it illegal to differentiate between people who are different. And what will it result in? Women will pay MORE! Clean and simple, men will continue to pay the same and women will have to pay more.
Stupid or what?