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Christmas present for Insurance Companies

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Christmas present for Insurance Companies

Is this an early Christmas present for insurance companies http://www.bbc.co.uk/news/business-20557527 as a result of this http://europa.eu/rapid/press-release_IP-11-1581_en.htm
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17 REPLIES
Community Veteran
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Re: Christmas present for Insurance Companies

Yes, and aren't some of the ladies bleating about it too...
Equality they wanted, but not if it comes at a price Wink
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Re: Christmas present for Insurance Companies

It's true though, equality is great until it doesn't suit them...
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kmilburn
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Re: Christmas present for Insurance Companies

In some respects it doesn't help the men either,  primarily in lower annuity values on pensions because the can't assume we'll die earlier.
However,  as they're not allowed to discriminate on race or religion, why should sex be any different.
Razer
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Re: Christmas present for Insurance Companies

It's not a matter of equality. Women had lower insurance costs because they are less likely to have accidents than men. It is only fair they had lower costs. This change is unfair in that regard. Basically women are being made to pay for the incompetence of male drivers for the sake of seeming equality.
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Re: Christmas present for Insurance Companies

Just one more reason for us to get out of the EU.
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Re: Christmas present for Insurance Companies

Quote from: Razer
Women had lower insurance costs because they are less likely to have accidents than men.

I don't believe that's entirely true. I think I read in statistics somewhere that women generally have more accidents than men. But they are mostly the minor kind.
Which makes sense if you think about it... schools runs... shopping and the like.
kmilburn
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Re: Christmas present for Insurance Companies

The problem with stats is that they're so easy to manipulate..  Hence the saying,  lies, damned lies and statistics.
Ideally,  the insurance industry should price insurance according to individual risk,  but that's impractical.
Then the question comes of what factors they can aggregate to determine collective risk.
Using a single measure that accounts for around 50% of the population seems overly broad and take no account for actual risk.
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Re: Christmas present for Insurance Companies

When assessing a risk I would have thought sex would be a factor.  It seems the EU are getting involved unnecessarily in this.
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Re: Christmas present for Insurance Companies

Quote from: artmo
When assessing a risk I would have thought sex would be a factor.

It would be if the car is moving at the time Cheesy Grin

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Community Veteran
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Re: Christmas present for Insurance Companies

What are you referring to Mav Wink
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Re: Christmas present for Insurance Companies

Quote from: Petlew
Equality they wanted, but not if it comes at a price Wink

Lol so true.
Quote from: dvorak
It's true though, equality is great until it doesn't suit them...

Like everything else with women. It's wonderful until they have to suffer the side effects and then it's terrible. All the time it doesn't affect them and it is someone elses problem they don't give a damn about it. If it affects you and you speak of it they accuse you of being all "me, me, me" but the moment it happens to them...  Roll eyes
Quote from: Razer
Women had lower insurance costs because they are less likely to have accidents than men.

I have to comment on that because around here there are just as many girl racers as there are boy racers. All trying to impress each other so they can work out who should be bedding who..  Roll eyes
Even the careful ones like SWMBO refuse to leave adequate braking distance, hit a parking machine, write off someones elses / a friend / colleagues car etc. The only difference is that some of them don't declare it to the insurers because they do their "we can sort this out as friends" cr@p that blokes can't get away with.
Quote from: artmo
It seems the EU are getting involved unnecessarily in this.

Nothing new there then eh? In truth I suspect a few Euro MPs got their knickers in a not when our insurance ways started to invade the rest of europe and they decided to retaliate. In some countries they don't even insure the driver they just insure the actual car itself and anyone can drive it. The UK insurers refuse to offer that here for obvious reasons but in europe many people are still semi trustable not to take the mick but I suspect our invading insurers attitudes were determined to milk that so the EU decided to take a stance. Thats my theory anyway.
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Re: Christmas present for Insurance Companies

I had a renewal quote and my insurance broker had suggested another company. As part of the new quote we had to supply details of our driving and claims history. Mrs Adair, named as a second driver, had her own car pranged whilst unattended in a supermarket car park and it was an expensive repair. Not her fault, but it was charged against her insurance.
The broker took all these details, and came back with a quote decreased by £30. There seems to be no logic to insurance risk assessment.
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Re: Christmas present for Insurance Companies

Quote from: Sprite
In some countries they don't even insure the driver they just insure the actual car itself and anyone can drive it. The UK insurers refuse to offer that here for obvious reasons but in europe many people are still semi trustable not to take the mick but I suspect our invading insurers attitudes were determined to milk that so the EU decided to take a stance. Thats my theory anyway.

All EU countries insure the driver as we do in the UK.  Where do they insure the vehicle?
Community Gaffer
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Re: Christmas present for Insurance Companies

Dear God we need some more women posters on this forum.  It's like being in a Working Mens Club!    Crazy