Legal & General has described as an ‘outrage’ plans from Brussels which will push up insurance premiums for women drivers.
An EU directive plans to ban insurance companies from setting lower motor insurance premiums for women. This is despite statistical data which proves women are less likely to have a serious crash. If, as planned, the directive comes into play in December, women could end up paying more than £362 extra every year for the same cover.
John Pollock, Executive Director of Risk at Legal & General commented: ‘It will make us entirely powerless to differentiate between risk for male and female customers.”
Perhaps L&G might absorb some of the fees? Shares at L&G recently rose 9p to 134.3p while the company has revealed plans to open another glitzy office, possibly in Hong Kong.