Insurers are hoping that the UK’s decision to leave the European Union will mean an end for the ban on basing premiums on a customer’s gender, the Telegraph reports.
Since 21 December 2012, the EU Gender Directive has required that insurers offer gender-neutral pricing, which has prevented them from charging women drivers cheaper rates.
The industry argued that the cheaper rates were justified because women are statistically safer drivers than men.
Herbert Smith Freehills partner Geoffrey Maddock told the paper: “I would be surprised if there wasbn’t a consensus forming to move away from this.”
But the Telegraph also quoted the AA as saying that it doubts the gender neutral pricing rules would be overturned. The AA noted that insurers had adapted well to the ruling, and that there would be a “significant cost to insurers” if it were repealed.
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