From the Wires
Gender Equality Law Examined by 21st Century Insurance Brokers
Brokers comment on women drivers & what aims to be a 'fairer' insurance market come 2013
By: Marketwired .
Nov. 22, 2012 01:00 AM
KENT, UNITED KINGDOM -- (Marketwire) -- 11/22/12 -- Women drivers are set to see their insurance premiums rise by 25 per cent before the year's out, following the introduction of a new European gender ruling. Brokers working within the industry are remaining neutral, carefully examining yet another market change and what it could mean for quote prices going forward.
The European Gender Equality Law will be enforced on the 21st of December 2012 and will effectively remove the need for an insurance application form to feature a 'Gender' or 'Sex' checkbox. This is because insurers will no longer be authorised to increase/decrease a quote based on whether the applicant is male or female.
Quote Me Today, the longest serving online broker in the country, is constantly monitoring changes to the industry and its neutral standpoint on this particular matter sums up the crux of what will no doubt be a long-contested debate:
A spokesperson for Quote Me Today commented:
'The gender ruling has been introduced with the best of intentions but obviously, if women drivers start to receive higher prices it is going to cause a bit of a backlash. Women are often reported to be safer drivers by plenty of reputable market researchers and so it is completely understandable why insurers currently take gender into consideration when evaluating driver risk.
'However, as the industry moves forward in terms of quoting accuracy, with the likes of telematics software becoming more accessible by the day, this could be another step towards basing quotes precisely on individuals - and not demographic groups.'
Quote Me Today's position in the industry is respected nationwide and by commenting here, it is a clear indication of how closely the firm keep an eye on market change - which is also an indication as to why dealerships across the country acquire motor trade insurance from Quote Me Today on a regular basis.
Meanwhile, a report from telematics software provider Wunelli, has concluded that women are 'categorically' better behind the wheel than men - after studying the driving behaviours of 19,000 motorists (male & female), over a combined total of 154million miles. Women were found to be 20 per cent safer, 12 per cent less likely to speed and 11 per cent less likely to brake excessively.
To find out more about Quote Me Today and their motor trade insurance service visit www.quotemetoday.co.uk.
About Quote Me Today
Quote Me Today is a Kent based broker with years of experience in providing risk solutions for both the personal and commercial lines markets. In an industry where competitive rates, risk knowledge and customer confidence are essential, Quote Me Today offer these through a panel of insurers with a wealth of industry experience.
Their relationship with these insurers allows them to quote competitive rates coupled with professionally tailored cover which provides the edge in placing your business at the right price without prejudice to your policy requirements.
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