Women's car cover bills to soar under EU sex equality law

British consumers are facing an estimated £500million increase in their insurance premiums later this year to comply with European sex equality legislation.
The new rules that men and women must pay the same for their cover takes effect on December 21, six months from now. Female drivers, especially younger ones, are likely to be the biggest losers.
Some are set to see premiums jump by as much as 25 per cent. Younger male drivers should see the biggest falls in premiums.

But overall, the Government and insurers expect everyone to lose out through less accurate pricing. In motor insurance alone, the cost to consumers is expected to be about £300million a year.
The change is being forced through after a ruling by the European Court of Justice last year, as Financial Mail has reported. This ends a special exemption for insurance from the laws on sex discrimination. It stops companies charging different prices for men and women, even where there is statistical evidence to justify price variations.


Read more: http://www.thisismoney.co.uk/money/cars/article-2160334/Womens-car-cover-bills-soar-EU-sex-equality-law.html#ixzz1y8QWFscG

Recession-hit Britons 'need more savings to make them happy'

The amount of savings Britons need to make them happy has risen sharply in the past two years, new research suggests.

The rise has been put down to rising job insecurity and uncertainty surrounding the economy.

Two years ago, 82 per cent of people were happy with savings of £5,000 but according to research by investment company Skandia, only 64 per cent today are comfortable with a nest egg of that size.


It was confirmed last month that the UK had returned to recession, following contraction in the economy in the final months of 2011 and the first quarter of 2012.
Read more: http://www.thisismoney.co.uk/money/saving/article-2141171/Recession-hit-Britons-need-savings-make-happy.html#ixzz1upx606BT