The negative consequences of the European Court of Justice ruling (ECJ) that has led to a ban on the use of gender as a factor in insurance pricing must be understood, Insurance Europe's director general, Michaela Koller, told a European Parliament hearing on the impact of the ruling. Premium increases are expected for lower-risk groups, such as young women drivers and women seeking term life insurance, as a result of the ruling.
Koller warned of the danger of a possible legal challenge to the EU's draft Anti-Discrimination Directive, if it were to be structured in the same way as the EU Gender Directive that was challenged by the ECJ. "A ban on insurers using age or disability in insurance pricing would signal the end of the private insurance business model. It would have a massive impact on the affordability and availability of insurance for EU consumers," she told the hearing in the Women's Rights and Gender Equality Committee today.