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Age is a factor for car insurance, says expert
New plans aim to end age discrimination in the area of car insurance, but one expert has claimed it is necessary.
The new equality bill, which was published on April 27th, earmarked a number of measures that could put a stop to car insurance companies using age as a way of calculating costs.
However, Malcolm Tarling, a spokesperson for the Association of British Insurers (ABI), stated age is "relevant" and insurers should be able to continue to use it as a measuring tool.
He said: "You take away a particular rating factor such as the use of age, then it is going to be forcing insurers to almost operate with one hand tied behind their back.
"They will have insufficient information to assess the risk"
Car insurance costs can also be affected by improving mortality rates. National Statistics estimate a boy born in the UK in 2006 will have a 91 per cent change of reaching 65, while a girl has a 94 per cent chance.
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