‘Triumph of equality over fairness’ as women drivers stung

THE insurance industry has predicted insurance costs will rise for female motorists and male pension policies following a landmark ruling by the European Court of Justice that setting insurance prices on the basis of gender is discriminatory.

Insurers have warned that overall costs of both motor and life insurance products will almost inevitably rise from December 21, 2012, when current derogations under EU legislation allowing insurers to discriminate on grounds of sex expire.

The Irish Insurance Federation said the ruling would prevent insurance companies from differentiating between sexes in pricing motor insurance and life assurance products, despite statistics showing that men and women present different risks.