Research (Penizenavic.cz)
Markets  |  July 13, 2012 12:52:33

Consolidation of premium payments - a slight decline in men, a significant increase in women


From 12.21 this year is based on the European Council Directive on the unification of insurance payments for men and women. What is the purpose of this measure and what will have an impact on clients, insurance companies, so we talked with Dr.. Ivo Drápela, senior director of personal insurance of UNIQA.

What is the purpose of the European Council Directive governing the unification of the premium rates for men and women?

Simply achieving equality between the sexes, the European Council seeks to ensure that men and women within the European Union offered products and services at exactly the same conditions. It is an anti such discriminatory treatment.


The term "legislative change" people often present some very lengthy process, especially in the Czech Republic, where for several years, we are dealing with the settlement with churches, government maturity, pension reform, environmental procurement, etc. How is it that the union premium rates for men and women appeared so quickly?

The story of the unification of the premium rates for men and women write more than you might expect. Because it regulates the Directive of the European Council 13.12 The 2004th Based on this directive should be the premium rates on life insurance united since 21.12.2007. So in fact it is already a nearly eight-year process.
At that time, however, many countries including Czech Republic, pushed through an exemption by the European Council admitted the evidence of a reliable mathematical and statistical data demonstrating the diversity of bothsex, at least as far as risk insurance. This exemption was granted for five years and this year was to be extended. Now we know that it does not, on the basis of the ECJ judgment of 01.03.2011, which states that it would extend this exemption contrary to the Union's basic law.

And insurance companies alone have enough time to adapt to these changes and what changes will it actually?

Yes, 21 months is enough time to prepare, when you apply changes, while we rely on statistics and mathematical models, it's not that no hasty processes.
The unification of tariffs with a "low risk" cheaper and vice versa "safe risk" expensive. It will mainly cover life insurance and related coverage, such as private health or accident.Partly this may occur for other species such as car insurance or pension, but there's still with us no more impact.
Unification of tariffs will bring a substantial price increase risk life and accident insurance, women who are now taking into account the lower risk, longer life expectancy and in some respects better health. According to practice in the Czech insurance market and on the new regulation will suffer especially women, who actually pays the premiums higher risk men. This can lead to further disparity, so far as to insure more men who can look forward to part slightly cheaper in some segments. Higher premiums may discourage women from trying to secure due to the price. According to first calculations of their insurance policies may actually rise by 50%.In a few segments on the contrary will have to pay extra men who, for example, yet logically avoid accruing parameter "pregnancy", whereas now they could under the new rules and pay for it.

Overall, however, premium rates could fall for a man or not?

Yeah, but rather only very slightly. Irrefutable fact is that men operate dangerous way of life and are also more prone to disease than women. This must continue to reflect the payment of premiums, there may be some kind of solidarity, where the women through their higher rates partly paid for the risks associated with the lifestyle of men, it can not be relied upon.Significant reductions in premium payments, which would increase the risk of loss of such a contract, would very likely lead to significant life insurance more attractive in men, and she solidarity payment made by the women would not have been sufficient to cover the risk in men. Already, even, the more men than women to insure even a higher amount. This is due to our culture, in which man still pays for the breadwinner.

What do you recommend to clients?

According to existing interpretation, uniform tariffs will not apply to insurance contracts already concluded before 21 12th The 2012th Existing clients will have to pay premiums under existing contracts. Purely business, the opportunity now offered to attract the greatest number of insurance previously uninsured women who have to suffer the most after this date and now have a chance to save.But I would warn against fast nepromyšleným and arranging life insurance, which it most concerns. Life insurance is a decision with long-term impact. Do not be so convinced only "the latest offering even more advantageous" without responsible consideration. Do you have insurance, so as to conclude, for example in connection with the upcoming life events like birth of children or buying a home on credit - so, it pays to prepare well for this step in the coming months and take out an insurance policy carefully.

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