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ABI says it did all it could to oppose Euro gender ruling

The Association of British Insurers has hit out at suggestions it did not do enough to influence the European Court of Justice’s ruling on the use of gender in pricing products.

Last week, the ECJ ruled insurers cannot price products such as annuities and life ins- urance according to gender from December 21, 2012.

Finance & Technology Research Centre director Ian McKenna says the ruling serves as a “nail in the coffin” for the ABI. He believes it should have done more. He says: “It appears that the message to the industry has been not to rock the boat, otherwise it will be worse. But how much worse can it be? This demonstrates the ABI is not fit for purpose. The whole industry has every right to feel let down.”

Lifesearch senior policy adviser Matt Morris says: “The ABI was certainly not very vocal about the ruling in the trade press, so I think publicly it could have done more.”

An ABI spokesman says: “People need to understand the process that is involved here. You cannot lobby a court. We have done a lot of lobbying up to this point. In fact, if it was not for our lobbying and lobbying by the Government we would not have secured the original exemption from the EU gender directive in the first place.

“The suggestion that we have not done what we sho- uld have been doing is one that we would refute most vehemently.”


Ombudsman rejects Norwich & Peterboro’ Keydata appeal

Norwich & Peterborough Building Society insists it is not in any financial danger after the Financial Ombudsman Service issued its first final decision against the society on a Keydata complaint. In August, a FOS adjudicator ruled against N&P on a Keydata Lifemark product, which was contested by N&P. An ombudsman has now found against the […]

Goldman Sachs MD to replace Andrew Sentance on MPC

Goldman Sachs’ managing director Ben Broadbent will replace Andrew Sentence as an external member of the Monetary Policy Committee at the beginning of June. Broadbent became managing director at Goldman Sachs in 2006, prior to which he was senior European economist. In the past he has also worked at the Treasury and the Bank of […]

Relief map

Aegon senior pensions development manager Kate Smith says adviser clients will need help navigating the tax-relievable contribution changes

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. The ECJ ruling is so anti-science. It’s akin to the Inquisition denying Galileo’s heliocentric theory. As a profession, I think we have failed massively if we can’t explain how we legitimately use statistics to evaluate risk without discrimination.

  2. The ABI is either incompetent or ineffective. Which one is it I ask? Take your pick

  3. ABI says it did all it could to oppose Euro gender ruling ~ which, with no disrespect to the ABI, was about as much as AIFA’s been able to achieve trying to persuade the FSA to reconsider the RDR.

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