View more on these topics

Awareness of EU Gender Directive still at low level

A survey by London & Country Mortgages has found that more than 80 per cent of women are completely unaware of the forthcoming introduction of the European Gender Directive this year.

London & Country conducted an online survey of 811 women to gauge their views and awareness of the European Gender Directive.

The Directive comes into force on December 21 and will force insurers to charge men and women the same amount for cover.

Women currently pay less than men for their life and critical illness cover due to their longer life expectancy but can expect the Directive to push the cost up.

Although awareness of the Directive was low, more than 82 per cent of those surveyed anticipated the impact to be raised costs.

The exact cost implications are not yet known but it is estimated that women could see an increase of 15 per cent, potentially adding hundreds or even thousands of pounds to the total cost of a policy.

London & Country associate director David Hollingworth says: “With 36 per cent of respondents and more than 41 per cent of their partners having no cover at all, the time is right to review you and your family’s protection.”

Recommended

whittaker.jpg

Buy-to-letwatch

We have just entered the second half of 2012 and, like many companies, run on a calendar year for performance, so outturn, the overall quantity of business as of the end of June, matters to us.

Week in numbers

£119m – The amount Bob Diamond, Barclays former chief executive, received in bonuses. 0.25% – The percentage cut to the interest rate by the European Central Bank, meaning it now stands at a record low of 0.75 per cent. £13bn – The uplift to economic output during the Olympics, Prime Minister David Cameron predicts. £250,000 […]

Ireland’s debt forgiveness proposals will hike mortgage arrears in the short term, says Moody’s

Ireland’s new personal insolvency legislation could increase arrears and losses on existing mortgage loans in the short and medium term, warns Moody’s. The Personal Insolvency Bill will introduce debt forgiveness for borrowers deemed to have unsustainable mortgage debt in an effort to bolster a national recovery and strengthen bank balance sheets on a long term […]

ING to increase SVR to 3.99%

ING Direct last week announced that from August 1 it plans to increase its SVR from 3.5 per cent to 3.99 per cent. According to the bank, the move is due to the increasing cost of funds and puts it in line with other lenders. Bank of Ireland, Clydesdale and Yorkshire Banks, Co-operative Bank, Halifax […]

Newsletter

News and expert analysis straight to your inbox

Sign up