The practice of actuarial calculation based on the gender criterion was examined by the ECJ in 2011. The gender criterion is least accepted in pricing, closely followed by age. The implications of a prohibition on gender-based discrimination are substantial for actuarial calculation. In particular, the decision of the Court of Justice on gender discrimination in setting premiums and insurance benefits must be considered of paramount importance. This is the first time, in fact, in which the European Court of Justice has declared itself so clearly opposed to the use of sex-specific actuarial factors in the calculation of premiums and benefits. Considering these assumptions, insurance companies have to find other economically viable market solutions that may link the insurance prices closer to personal risk.
The gender criterion in the insurance industry
Andrea Russo
2023
Abstract
The practice of actuarial calculation based on the gender criterion was examined by the ECJ in 2011. The gender criterion is least accepted in pricing, closely followed by age. The implications of a prohibition on gender-based discrimination are substantial for actuarial calculation. In particular, the decision of the Court of Justice on gender discrimination in setting premiums and insurance benefits must be considered of paramount importance. This is the first time, in fact, in which the European Court of Justice has declared itself so clearly opposed to the use of sex-specific actuarial factors in the calculation of premiums and benefits. Considering these assumptions, insurance companies have to find other economically viable market solutions that may link the insurance prices closer to personal risk.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
