What do you think of the new insurance regs - Bloody EU yet again!

This is cut directly from the money.co.uk excellent newsletter.
I was totally unaware of this and am shocked to say the least!

Next Monday the insurance industry is likely to turn 'all p.c.' and you could end up paying more as a result.

A ruling by the European Court of Justice due on 1st March has the power to ban gender discrimination within the insurance industry. If the ban goes ahead it will mean that insurers are no longer able to factor gender into the risk-based pricing they use to calculate premiums and pay-outs - dramatically affecting the cost of some financial products for some people.

Young female drivers would see the cost of car insurance rise significantly; possibly by as much as 50% if their premiums are brought in line with their male counterparts - even though they'll still be statistically less likely to crash and claim.

Women would also be worse off when it comes to the comparative cost of term life insurance, critical illness and private medical cover.

However, it's men that look set to lose out in the long run; if the ban takes force the annuity rates they're offered, and consequently their retirement income, could fall.

That said, there's no guarantee that the ban will come into effect, we will have to wait until Monday to find out for sure. However, if you are in one of the groups potentially at risk it is worth getting your insurance sorted, or investigating annuities this week just in case.

Most insurers will offer to hold your quote for a couple of months so even if you're not looking to buy right away, getting a gender-biased price on paper now could save you in the long run. You can use our car insurance, life insurance, health insurance or critical illness cover comparison tables to help you find the best policy for the best price.