insurance question

OLDYELLAR

today at work someone told me womens insurance is going to be brought inline price wise with mens , just wondering is this true or just bull?fecks up me getting a car if its true.

Creamy Goodness

yeh i heard this aswell, don't know if it's true though.

bout time they give men a break in fairness

OfflerCrocGod

Cremo wrote:

bout time they give men a break in fairness

No, you misunderstood them they are going to raise prices on women not lower prices on Men

OLDYELLAR

robbing bast*rds should bring mens in line with womens , just did my theory test tonight 40 oura 40 , another example of irelands money racket system

The Muppet

Its called equality , the ladies were complaining that it was unfair that insurance for males was dearer so those nice people in the insurance industry are about to fix it for them.



To be serious I have hear this but as insurance is supposed to be based on risk assesment I don't see the justification for it myself

OLDYELLAR

So is it true like?whens it meant to be enforced?

sceptre

No, it's like this: at the moment women are having less accidents (both in quantity and on a cost basis) not because they're safter drivers than men statistically but because they're doing less mileage. Per mile, woman have slightly more accidents than men (incidentally I'm not interested in a "members of my designated social grouping are better drivers than yours" argument). Woman are beginning to drive more, on average, than they used to. The expectation is that women's mileage will become equivalent to men's in a number of years. Hence, should (that's an "if") current trends on accidents per mile continue for both sexes, women's insurance will cost more than men's in a short few years.

Because an actuary can point to a line of figures and work out the risk of any given group (including "men" or "women") it's highly unlikely that anyone is going to force the price of insurance for a woman upward merely out of some misguided sense of equality. However the cynic in me reckons the same defence will not work when/if the cost of insurance for a woman is greater than that for a man.

Blitzkrieger

The EU brought out a new law that made it illegal for insurance companies to charge men more than women recently. The Irish goverment haven't implemented it.

dcGT

sceptre wrote:

No, it's like this: at the moment women are having less accidents (both in quantity and on a cost basis) not because they're safter drivers than men statistically but because they're doing less mileage. Per mile, woman have slightly more accidents than men (incidentally I'm not interested in a "members of my designated social grouping are better drivers than yours" argument). Woman are beginning to drive more, on average, than they used to. The expectation is that women's mileage will become equivalent to men's in a number of years. Hence, should (that's an "if") current trends on accidents per mile continue for both sexes, women's insurance will cost more than men's in a short few years.

Well that's certainly a new spin on things. I've never heard that one before, but you can imagine the uproar if women ever had to pay more insurance than men.

DC.

quarryman

dcGT wrote:

Well that's certainly a new spin on things. I've never heard that one before, but you can imagine the uproar if women ever had to pay more insurance than men.

DC.

i can't wait.

if it was the other way around, it wouldn't have lasted a week.

Per mile, woman have slightly more accidents than men

where's your source for this? i'm not doubting it, just like to have a read myself.

sceptre

quarryman wrote:

where's your source for this? i'm not doubting it, just like to have a read myself.

I'll look for a source later. Or cast the shadow of doubt on what I said later. It's something I read in a few articles about insurance a good while ago so to be honest I'd be interested in finding a reliable source myself.

Blitzkrieger wrote:

The EU brought out a new law that made it illegal for insurance companies to charge men more than women recently. The Irish goverment haven't implemented it.

Hmmm, opposite to what I mentioned as sanity above. Any link for this (even a boards one)? (like quarryman, I'm not doubting you, just wondering how they managed to justify it)

Boggle

Blitzkrieger wrote:

The EU brought out a new law that made it illegal for insurance companies to charge men more than women recently. The Irish goverment haven't implemented it.

Actually the bill was dropped due to pressure from the insurance Federations across Europe... was in breakingnews or examiner a few weeks back.

No, it's like this: at the moment women are having less accidents (both in quantity and on a cost basis) not because they're safter drivers than men statistically but because they're doing less mileage.

Women actually have a higher accident rate than men but most of these are of the slight tip variety that go unreported... Although to be fair it may also be because they do more driving in town's (I'd imagine) than their male counterparts where you might be more likely to hav a rub. Not sure where I read it - think it was on an article in the indo one time...

To be serious I have hear this but as insurance is supposed to be based on risk assesment I don't see the justification for it myself

They are allowed discriminate based on risk assesment so? You mean based on their interpretation of their stats... Any raw data available??? (By the way, if you'v never sone stats, you can pretty much make statistics say anything you want them to say so dont take them as empirical evidence...)

koneko

quarryman wrote:

i can't wait.

Why not? It's not going to make your insurance cheaper, it's just going to make ours more expensive.

It should be the other way round. They should be bringing men's insurance down, in line with women's, but they won't, it's a nice little money-spinning exercise they have going on. The quotes should be equal (for men and women), but not at the prices you guys are paying.

Fionn101

I for one am glad it's being brought into line , but like koneko said it's still a total rip off.

If only foreign insurance companies could quote here the sudden influx of multinational insurance companies would drive huge competition,

but this is Ireland, and the fcukers still have their lucrative business (and kickbacks) in place.

What has mijag been up to lately? anyone know , haven't had a mail or a demonstration from them in a while.

Boggle

Have been keeing an eye on mijag for a few yers now and he never seems to get anywhere... personally I reckon the only way is to drive into you local city every saturday and stop ur car in the middle of the street until the problem is sorted. The way he's going about things is too... diplamatic, for want of a better word.

Do it once, get on news - the next week you'd have every pissed off youngster along side you... (letter's are too easy ignore)

Seth Brundle

Fionn101 wrote:

If only foreign insurance companies could quote here the sudden influx of multinational insurance companies would drive huge competition,

AFAIK they can - they just don't want to as apparently (IIRC), they feel it is not worth their while!

Fionn101

Are you sure about this ???? there is huge profit in the insurance sector
source http://www.mijag.com/ (top story of page 1)

Seth Brundle

have a look at http://www.tca.ie/insurance_non_life_competition.pdf (section 3.110)

dcGT

There are 2 conflicting reports there. On the one hand, MIJAG are saying that Irish insurance companies are 100 times more profitable than their UK counterparts.

http://www.mijag.com/press/press_profits03.asp

On the other hand, the doc posted by kbannon states that: -

"Most parties spoken to cited poor profitability as the main reason why underwriters hadnot entered the Irish motor insurance market in recent years."

It seems that someone's telling porky pies......

DC.

Seth Brundle

I think that the reference in the TCA report means that the companies think the return they may get after setting up a company, marketing it, etc., paying out the high claims here etc. does not justify their establishment.
However, Sean Quinn seems to be doing alright!

So, tbh, I don't know what the truth is! Is it just an inaccurate foreign perception?

dcGT

kbannon wrote:

So, tbh, I don't know what the truth is! Is it just an inaccurate foreign perception?

Maybe that's what the Irish insurers WANT the potential foreign competition to think

DC.

Sha

[QUOTE=OLDYELLAR]robbing bast*rds should bring mens in line with womens , just did my theory test tonight 40 oura 40 , another example of irelands money racket system[/QUOTE]

We get Cheap Car Insurance cos we,ve Got tits , Grow a Pair and you,ll be sorted !!!!!

Treora

All this impetus for new EU insurance directives came about because women in Germany, France, the Netherlands etc. where being charged more than men for life assurance associated pensions due to the fact that they lived longer and cost the finanical houses more. The equality and finanical commissioners got together and proposed the levelling of all gender bias in insurance and assurance markets to help women in old age.

Also the foreign insurance companies are usually the same ones on the continent or through out the globe. Like OPEC the insurance giants of the world agree silently not to cause too much competition for each other. And only up the competition when a country's public complains so much so that their government provides alternative insurance cover vis a vis PMPA, which was later re-privatised to AXA once efficient competition, supposedly, returned to the market.

Sha

Treora wrote:

All this impetus for new EU insurance directives came about because women in Germany, France, the Netherlands etc. where being charged more than men for life assurance associated pensions due to the fact that they lived longer and cost the finanical houses more. The equality and finanical commissioners got together and proposed the levelling of all gender bias in insurance and assurance markets to help women in old age.


[SIZE=7]
SHUT UP[/SIZE]

Blitzkrieger

Fionn101 wrote:

If only foreign insurance companies could quote here the sudden influx of multinational insurance companies would drive huge competition.

They can. If they are licensed to provide insurance in any EU country they can legally provide insurance in all EU countries.

OLDYELLAR

hey sha i already have a pair and a nice pair at that , but i still think men should be brought in line with women , yes i have boobs so thats all i wanted to say!

smoke.me.a.kipper

Sha wrote:

We get Cheap Car Insurance cos we,ve Got tits , Grow a Pair and you,ll be sorted !!!!!

ill have you know shes got quite a fine rack.

OLDYELLAR

thanks smxk , so do you

sceptre

Yes, racks, indeed. I don't have one and neither does my car.

Now, on the topic of my post above, I've come across conflicting reports about the frequency of accidents that men have as opposed to women, in particular an irish report which states that the frequency of accidents by male drivers is /much/ higher than that of female drivers, and a Canadian report that puts them about the same frequency. And I can't find where I read the supporting evidence and I'm too lazy to spend a long time looking So jury's still out in my mind but disregard the part of my post that deals with accident frequency.