Women reportedly are 10 times less likely to have a serious crash than male counterparts
San Francisco, CA -- (SBWIRE) -- 09/06/2012 -- Insurance companies all around the world work with numbers and research suggests that females are ten times less likely to have a serious crash than males. It is a stark contrast and is going to affect a lot of insurance companies once the ban is placed.
Sheila’s Wheels is a UK female-focused insurance firm that has lashed out at suggestions that the new EU gender rules will lead to the company’s demise.
The directive will come on December 21, 2012, which will stop insurance companies from charging men more than the women for their car insurance.
The law firm Sackers has suggested that when the directive takes effect it will lead to the demise of the company, Sheila’s Wheels, which in turn is angered by those suggestions and has responded aggressively.
Sheila’s Wheels’ spokesman said that the company insures half a million drivers in the UK and talk of the company’s demise is naïve. The company is very much capable of adapting to the new rules.
Reports regarding the law coming from the Labour and the Treasury have found that millions of women may end up paying an extra £362 a year whereas younger adults would see a drop in their payments by almost nine percent.
Sheila’s Wheels has claimed that because of its 90 percent women customers, the new gender rules will actually give them a competitive advantage as the premiums of its female clients will go up to help subsidise the claims of the male customers who are more prone to making claims in contrast to women.
Sheila’s Wheels also stated that this new rule may make way for telematics, technology that is installed in the cars to monitor how safely a policy holder drivers his or her car regardless of their gender.
These statements were taken back by the company as they claimed them to have been taken out of context according to the Daily Mail.
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