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.
It could also send those markets into a re-pricing frenzy with advisers finding themselves on the frontline as providers attempt to accommodate the new risk limits. COVER understands the verdict, which cannot be appealed, could force insurers to stop gender-based underwriting immediately. This would mean those providers with older legacy systems may have to stop conducting new business until they can update their systems or risk trading illegally. The judgment may even compel insurers to retrospectively amend their policies. It stems from a European Court of Justice opinion issu...
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