UK Money News
7th July 2008
Equality Bill could drive up premiums
The government's new Equality Bill could have a deleterious effect on the car insurance sector, it has been claimed.
Under proposals contained in the Bill, car insurance companies could be forced to offer cover for pensioners, who are currently frequently refused policies on the grounds that they are a high risk on the roads.
However, although the move has been welcomed by consumer groups, Fairinvestment.co.uk claims it could drive premiums up for the average consumer as insurers look to cover the increased cost.
James Caldwell, the site's director, said: "If the legislation comes into effect, consumers who are classed as low risk by insurance companies will find themselves hit by increased bills as a result.
"Insurance companies will be forced to pass the extra cost onto consumers as they will not have the same income as they used to from high risk drivers."
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