Stephen Haddrill, Director General of the Association of British Insurers, commented on the publication of the UK Government’s Discrimination Law Review – “A Framework for Fairness: Proposals for a Single Equality Bill for Great Britain” – with the following statement:
“The Government recognizes that it is fair for insurance companies to use data on age and gender in setting premiums for some products. This is because different groups of people represent different levels of risk in some types of insurance. We agree that specific legislation on insurance in the proposed Single Equality Bill is unnecessary and would be expensive for customers.
“The report recognizes the important work the ABI is already doing with organizations like Age Concern and Help the Aged to ensure that older people have good value access to products like motor and travel insurance. And we support the Government’s efforts to ensure that, when the EU Gender Directive becomes law in the UK later this year, it is applied in a way that minimizes bureaucracy for insurers and costs for our customers.”
Was this article valuable?
Here are more articles you may enjoy.
OpenAI Report Says Its Network Was Hacked by Its Own Rogue AI Agents 
Former Virginia Insurance Agent Pleads Guilty to Fraud 
Tornado Alley’s on the Move and Creating New Risk Concerns, Modeler Says 
State Farm Must Give Up Trade Secrets in Claims Lawsuits, but Under Court Review 
