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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/03/womens-lower-premiums-ruled-unfair.jpg"><img class="alignnone size-full" title="European judges said using gender in setting premiums for car and medical insurance breached rules on equality" src="http://londonglossy.com/wp-content/uploads/2011/03/min-womens-lower-premiums-ruled-unfair.jpg" alt="European judges said using gender in setting premiums for car and medical insurance breached rules on equality"/></a></p>
<p>European judges have rewritten the rule book for insurance companies by banning risk assessment based on gender.</p>
<p>Using differences between men and women as a risk factor in setting premiums for car and medical insurance and pension schemes breaches EU rules on equality, declared the European Court of Justice in Luxembourg.</p>
<p>The verdict &#8211; which applies from December 21, 2012 &#8211; will force changes in the current standard practice across Europe of basing insurance rates on statistics about differing life expectancies or road accident records of the sexes.</p>
<p>It was immediately condemned as &#8220;utter madness&#8221; and a &#8220;setback for common sense&#8221; by Conservative MEP Sajjad Karim.</p>
<p>The Association of British Insurers estimates that the decision will actually reinforce price discrimination, with women drivers under 26 in the UK facing a 25% rise in car insurance rates, with a 10% drop in rates for fall for men.</p>
<p>Until now, discrimination in setting insurance rates has been explicitly permitted under EU equal treatment rules, &#8220;if sex is a determining risk factor&#8230; substantiated by relevant and accurate actuarial and statistical data&#8221;.</p>
<p>But on Tuesday the judges followed advice from the court&#8217;s Advocate-General that &#8220;higher-ranking&#8221; equality provisions set out in the Charter of Fundamental Rights of the Lisbon Treaty must now apply.</p>
<p>Insurance companies can carry on discriminating between the sexes until December next year &#8211; the time when current EU equality rules are due to be reviewed.</p>
<p>The delay will also give insurance companies and risk assessors time to change the template for risk assessment by ignoring traditional statistical gender-based evidence.</p>
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