Euro judges ban insurance risk assessment based on gender

[Guest three3]

http://www.yorkshirepost.co.uk/news/at-a-glance/top-stories/judges_rewrite_the_rule_book_as_lower_insurance_premiums_for_women_are_ruled_illegal_1_3130595

 

European judges rewrote the rule book for insurance companies today by banning risk assessment based on gender. Using differences between men and women as a risk factor in setting premiums for car and medical insurance and pension schemes breaches EU rules on equality, declared the European Court of Justice in Luxembourg.

 

The verdict - which applies from December 21 2012 - will force changes in the current standard practice across Europe of basing insurance rates on statistics about differing life expectancies or road accident records of the sexes.

Edited March 3, 2011 by Just Jack
Copied entire article into post

[Chef Jim]

How can you not price insurance differently based on risk?? WTF. If I have two people of equal age and health but one is actuarily going to live longer how can I not price that one more? That's just stupid. So insurance companies are going to re-write the actuary tables and price the insurance for woman or lower risk people at a higher price. Good job EU.

[Guest three3]

How can you not price insurance differently based on risk?? WTF. If I have two people of equal age and health but one is actuarily going to live longer how can I not price that one more? That's just stupid. So insurance companies are going to re-write the actuary tables and price the insurance for woman or lower risk people at a higher price. Good job EU.

 

why should healthy men who do not live "risky" lives or participate in "risky" activities or eat a bunch of fast food and smoke cigarettes be charged extra just because the rest of men live like fools? i am an incredibly healthy male living a conservative lifestyle yet i am paying the (insurance) price for the mistakes of men around me

[boyst]

According to studies the kitchen is one of the most dangerous places in the entire house. Walking barefoot is also high risk. How can women not be a higher risk then men?!

[KD in CA]

Nice to know that Europe is keeping right up with us in terms of social engineering idiocy.

[DC Tom]

The nature of "risk" violates the idea of equality.

 

 

That is a completely retarded decision.

[Guest three3]

The nature of "risk" violates the idea of equality.

 

 

That is a completely retarded decision.

 

 

i think of all the years i paid through my arse for insurance. i've had no accidents, just a seat belt ticket. i don't smoke except for cannibus. i don't drink, haven't had fast food in decades. yet i pay uber high rates for all sorts of insurance. so go F yourselves insurance companies and u.s. judges. and give me my money back.

[boyst]

i think of all the years i paid through my arse for insurance. i've had no accidents, just a seat belt ticket. i don't smoke except for cannibus. i don't drink, haven't had fast food in decades. yet i pay uber high rates for all sorts of insurance. so go F yourselves insurance companies and u.s. judges. and give me my money back.

I don't drink, cept for beer.

[Guest three3]

I don't drink, cept for beer.

 

stay away from the hard stuff. i've read red wine is better for you, health-wise. not like an insurance company would care if you made the change though or even if you stopped drinking forever. you were born with a rod and spheres between your legs therefore insurance companies will hi-jack what's in your pockets.

[ExiledInIllinois]

why should healthy men who do not live "risky" lives or participate in "risky" activities or eat a bunch of fast food and smoke cigarettes be charged extra just because the rest of men live like fools? i am an incredibly healthy male living a conservative lifestyle yet i am paying the (insurance) price for the mistakes of men around me

 

 

There is a Chralie Sheen joke in here and this thread... I am just not sure where yet!

 

 

All I can say is that if this makes it to the US, Charlie Sheen is totally winning!

Edited March 3, 2011 by ExiledInIllinois

[UConn James]

It's against the Terms of Service to post articles in their entirety. Not to mention the illegality of copyright infringement, it really sucks for the writer and the future of content (free or otherwise).

 

Provide a link and, at most, a few paragraphs.

[ExiledInIllinois]

It's against the Terms of Service to post articles in their entirety. Not to mention the illegality of copyright infringement, it really sucks for the writer and the future of content (free or otherwise).

 

Provide a link and, at most, a few paragraphs.

 

Yeah... That was a bit long and over the top OP.

[Chef Jim]

why should healthy men who do not live "risky" lives or participate in "risky" activities or eat a bunch of fast food and smoke cigarettes be charged extra just because the rest of men live like fools? i am an incredibly healthy male living a conservative lifestyle yet i am paying the (insurance) price for the mistakes of men around me

 

You're not you're paying a lower premium, at least for life insurance. You would most likely get a better rating and pay less. You're not paying nore because men live less healthy life stlyes. We just die younger than women. It's just the nature of the beast so to speak. But don't worry. As women work their way up in corporate America and being "attcked" by the stress associated with it they're catching up to us.

[Nanker]

A better ruling, perhaps would be to ban the sale of insurance altogether. That would do away with the barbaric practice of allowing individuals to pool their risk and pay premiums based on the statistical percentage of a covered incident occurring to someone within the collective group. No coverage whatsoever, that's the ticket.

Hell, ban insurance companies completely while we're at it.

They've got tons of our money. They're evil.

[Peace]

It's sex. Not gender. Infuriating that we've pruded up the language so much that no one uses the right word. Gender has to do with grammatical rules. Sex has to do with chromosomes. This is not a case of evaluating risk based on grammar rules.

Edited March 3, 2011 by Peace

[Doc]

http://www.yorkshirepost.co.uk/news/at-a-glance/top-stories/judges_rewrite_the_rule_book_as_lower_insurance_premiums_for_women_are_ruled_illegal_1_3130595

 

European judges rewrote the rule book for insurance companies today by banning risk assessment based on gender. Using differences between men and women as a risk factor in setting premiums for car and medical insurance and pension schemes breaches EU rules on equality, declared the European Court of Justice in Luxembourg.

 

The verdict - which applies from December 21 2012

Sure, start it the day the world is gonna end.

[KD in CA]

i think of all the years i paid through my arse for insurance. i've had no accidents, just a seat belt ticket. i don't smoke except for cannibus. i don't drink, haven't had fast food in decades. yet i pay uber high rates for all sorts of insurance. so go F yourselves insurance companies and u.s. judges. and give me my money back.

 

Here's a tip: if you don't like their business model, don't give them your money.

[Pine Barrens Mafia]

How can you not price insurance differently based on risk?? WTF. If I have two people of equal age and health but one is actuarily going to live longer how can I not price that one more? That's just stupid. So insurance companies are going to re-write the actuary tables and price the insurance for woman or lower risk people at a higher price. Good job EU.

 

 

In Colorado, it's now illegal to judge risk for health insurance based on gender. Damn granola-eaters.

[Chef Jim]

In Colorado, it's now illegal to judge risk for health insurance based on gender. Damn granola-eaters.

 

That I might be able to understand. Are there statistics that show women utilize more health benefits? Life insurance is a whole different story where it's well documented that women outlive us. And of course the reason is they drive us to our graves.

[Pine Barrens Mafia]

That I might be able to understand. Are there statistics that show women utilize more health benefits? Life insurance is a whole different story where it's well documented that women outlive us. And of course the reason is they drive us to our graves.

 

 

Health insurance is the inverse of life. Life costs more for men, health for women. Reason being is that women are more likely to utilize healthcare than men. Companies are handling the change by making rates higher for everyone I think.

Edited March 3, 2011 by joesixpack