The Association of British Insurers (ABI) is publishing gender tables to aid insurers set prices for their products after a recent change in the law .
The Continuous Mortality Investigation (CMI) collaborated in formulating the tables, which will illustrate the differences in claims patterns for men and women for life and protection insurance, in addition to other products.
The EU Gender Directive was made into English law through the Sex Discrimination Regulations in April and enables insurance companies to use gender differences when they price their policies.
An ABI spokesman says: "The insurance industry is against unfair discrimination of any kind, and does not practice it. But it is legitimate for companies to set prices, levels of cover and benefits according to a number of factors which together determine the relative risk that any given customer poses." He added that this principle has long been accepted by society.
Gender tables for risk pricing published by the Association of British Insurers
Financial Services > Income lnsurance > News
Gender tables for risk pricing published by the Association of British Insurers
Thu, 26 Jun 2008
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