01 Mar '11, 2pm

The European Union's highest court barred the insurance industry from charging different rates for men and women.

BRUSSELS - THE European Union's highest court on Tuesday barred the insurance industry from charging different rates for men and women, saying the widespread practices amounts to sex discrimination against millions. The ruling ordered changes effective Dec 21, 2012, to auto insurance, life insurance, medical coverage and other plans, potentially affecting tens of millions of customers across the continent. For example, many women driver would see their car insurance costs rise even though they are considered safer on the road. Insurers grudgingly accepted the ruling, but say their current policies are statistically fair and the change will be bad for customers because it will force cost hikes across the board. 'The judgment ignores the fact that taking a person's gender into account, where relevant to the risk, enables men and women alike to get a more accurate price for t...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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