Life and Car Insurance Up for Women

15th February 2007, Comments 0 comments

15 February 2007, BRUSSELS — The controversial European “non-discrimination” regulations currently discussed in the Belgian Parliament have caused a great deal of concern in the insurance sector.

15 February 2007

BRUSSELS — The controversial European “non-discrimination” regulations currently discussed in the Belgian Parliament have caused a great deal of concern in the insurance sector.

Coming into force in 2008, the regulations forbid all Belgian insurers to take into account whether their client is a man or a woman when calculating their premiums.

At the moment, the statistics on men and women are still in use. For example, women cause fewer accidents and therefore pay lower car insurance bills. Women also have a longer life expectancy than men, which puts them in a favourable position in terms of various kinds of life insurance.

If such natural factors are no longer considered, the insurance system will become less flexible and less efficient, leading to a general increase in insurance rates.

This will mostly affect younger women. Life insurance alone will become up to 30 percent more expensive for this category, Assuralia chairman Christian Defrancq said.

Assuralia wants the Belgian government to make use of its right to ask the EU to make an exception for life, car and health insurance policies in Belgium.  This can be done until 21 December, however it is very unlikely that the government will listen, De Standaard writes.

[Copyright Expatica News 2007]

Subject: Belgian news

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