ECJ ruling: In quotes

Today's ruling that insurers will no longer be able to charge different premiums to men and women because of their gender has provoked wide-ranging reaction.

Here is a selection of the best insurance industry quotes.

LV= chief executive John O’Roarke:

"We’re not happy that the decision has gone the way it has but we are appreciative of the fact that we at least have a reasonable period of implementation so the industry doesn’t get thrown into chaos.

"The difficulty for insurer is that while rates for females have to go up; it is not economic to reduce rates for young males."

Biba chief executive Eric Galbraith:

"Other people have described it as disappointing. I would put it stronger than disappointed. I find this a very strange decision. Insurance is about risk and it should be risk based.

"As soon as you start taking some of that away it’s a dangerous position. This is going to cost everybody more money. For the sector to change IT systems, the consumer’s going to pay more. I can’t see who’s going to benefit. It’s another strange decision coming out of EU."

Managing director of intermediary and partnership sales, AXA Personal Lines, Mike Keating:

"We’re disappointed but we’ve been preparing ourselves for this decision. There’s some relief that it’s not retrospective and that we have until December 2012 so we have the time to make the necessary changes.

"We’re reasonably well insulated from the impact judgement because the profile of our customers is from the older more experienced age group. Our customers tend to be from the older, more experienced age group with an average age between 38 and 42."

RSA UK chief executive Adrian Brown:

Today's judgement flies in the face of common sense. It is completely disadvantageous to the very people it was intended to protect and prevents insurers from using a legitimate rating factor.

"Once again consumers are going to have to pay the price for an illogical change in the law. I would urge the Government to make the case for honest drivers who are already suffering because of the rising price of petrol and the growing compensation culture."

ABI acting director general Maggie Craig:

“This gender ban is disappointing news for UK consumers and something the UK insurance industry has fought against for the last decade. The judgment ignores the fact that taking a person’s gender into account, where relevant to the risk, enables men and women alike to get a more accurate price for their insurance.

“Adaptation during this transition period until December 2012 will be challenging, but all insurers will be doing everything they can to ensure as smooth a change as possible for customers."

Moneysupermarket.com insurance expert Julie Owens:

“With the European Court of Justice ruling that discriminating by gender will be deemed unlawful when calculating insurance premiums, effective from December 2012, we will now see a fundamental and significant change to the UK insurance market," said.

"This move will be detrimental to UK consumers, and in the case of car insurance, premiums for female drivers will certainly increase sharply as a result."

Confused.com marketing director Mike Hoban:

"It is extremely unfair and illiberal that women will be penalised for the fact they cause less serious accidents and make less expensive claims than their male counterparts.

“It is a fact that motor insurance claims made by young male drivers cost more as they are more likely to be involved in serious accidents causing death and bodily injury. Historically men have paid higher premiums to reflect this, but from 21 December 2012 this won’t be the case."

Mohammad Khan, director of PwC’s actuarial practice:

“The concern now for insurers is whether age will be next on the European Court of Justice’s agenda.

"Any ruling against discriminating an insurance premium based on age would have a far greater impact on consumers and the insurance industry than today’s ruling.”

Mark Winlow, head of general insurance at KPMG:

“The most immediate effect of this ruling will be felt by women who will see their motor insurance premiums increase by up to 50%.

"However, of greater concern to the industry is the likelihood there will be further European challenges, particularly around age. This is a more significant factor than gender as age is used much more widely to differentiate risks. For example, a young male driver can easily be charged 1000% – 2000% more than the same man when he reaches 50."

Sheilas' Wheels spokesman:

“The fact that we have so many women insured with us already will make it easier for us to absorb this. And we expect to attract more women – if everyone else’s prices rise we’ll be very competitive.

“Despite this ruling, we will continue to market to women and to celebrate our pink brand because it does not prevent female-focused marketing. "Sheilas' Wheels has always insured men but most males simply aren’t attracted to our brand and we don’t see this changing because of price.”