Should we be first among equals?

I have just been doing some catch up on correspondence around what is happening with age discrimination and the Equality Bill. As a person who now qualifies for a senior discount on Eurostar, I should be all for something that purports to help me, but I am very concerned.

I feel I should welcome the idea of a fairer society, but have concerns that equality is being confused with fair. General insurance forms a part of the DNA of that “fairer society”. General insurance is also risk based and must remain that way. The idea that by not being risk based and not focused on a customer’s demands and needs (all of which we know are as different for the over 50s as they are for the under 25s) society can be fairer seems like a serious misconception to me.

The European Commission’s proposal for a Council directive implementing the principle of equal treatment between persons irrespective of religion or belief, disability, age or sexual orientation and the UK’s interpretation of it raises two issues. Firstly, that the insurance industry retains its exemption to be able to use age/disability related data to calculate risk premium is something that BIBA and the ABI are very much focused on and secondly, why is the government trying to rush this through our legislative process?

“One of the challenges around insurance cover for specific age groups, particularly older members of society, is a perception that cover is not available

Eric Galbraith

One of the challenges around insurance cover for specific age groups, particularly older members of society, is a perception that cover is not available. Unfortunately, technology and commoditisation have clouded many peoples’ views of the general insurance market and they seem to believe that the ‘standard offering’ available in the mass market is all that is available. Access to insurance is of course two-way and perhaps we all need to do more to promote the fact that cover is available from many specialist brokers. Believe me BIBA does raise this at every opportunity and our other message to government is that as cover is available for older members of society there is not a market failure.

But back to that EU discussion paper, I’m beginning to believe this is part of some malaise notwithstanding the words and the good intentions. Perhaps it’s just a UK problem. On a recent visit to our colleagues in mainland Europe I got the distinct impression that they were getting just a little frustrated at the UK’s constant pushing to put everyone in their own standard box.

I like the idea that we are a leading participant in the EU (even first among equals given our haul of medals at the Olympics), but as with anything we must be careful how we put forward our views and seek to influence discussions remembering that across Europe we are not all the same legally or culturally.