European Court of Justice

Technology provider 1st-The Exchange has revealed some providers may remove their products from the system later today in preparation for tomorrow's ruling by the European Court of Justice (ECJ), while others could do so on the day.

Cirencester friendly says the outlawing of gender-based underwriting could be a boon for providers selling Holloway-style income protection (IP) plans.

Insurers are readying themselves for next week's European Court of Justice (ECJ) ruling on the use of gender for underwriting.

LifeSearch has revealed it arranged £4bn worth of cover and saw a 10% increase in the number of under 35-year-olds who took out protection products last year.

Insurers could be prevented from using age, health and any other form of differentiation to underwrite and price products if a French administrative authority has its way.

The FSA expects protection and health insurance to be among the most likely product areas affected if the European Court of Justice (ECJ) rules that gender based pricing is illegal.

Advisers have expressed their shock at revelations a European Court ruling could require insurance contracts to be altered retrospectively and see some providers close to new business.

Some protection and private medical insurance (PMI) providers could be forced to immediately close to new business on 1 March when a European Court decision on gender underwriting is announced.

EU moves to enforce gender equality in insurance rates and pension calculations could lead to greater inequality The Actuarial Profession has said.

The CEA, the European insurance and reinsurance federation, has warned that there could be far-reaching implications for the price and availability of insurance cover if an opinion by the advocate general is upheld by the European Court of Justice.