The following Pensions practice note Produced in partnership with Elizabeth Ovey of Radcliffe Chambers provides comprehensive and up to date legal information covering:
This Practice Note considers the implications of the case Association belge des Consommateurs Test-Achats v Conseil des Ministres (the Test-Achats case) and other relevant law on the use of sex-based actuarial factors in insurance products and occupational pension schemes.
Despite Brexit, the European Test-Achats case and other EU case law pre-dating IP completion day (11pm on 31 December 2020) referred to in this Practice Note continue to be binding on UK courts and tribunals post-IP completion day, until the UK courts exercise their powers to diverge. For more information, see Practice Note: Introduction to retained EU law.
Insurance companies used to apply certain common practices before the Test-Achats case:
statistically, women are likely to live longer than men, so insurance companies commonly offered women a lower annuity for the same capital sum because it has to be paid for longer
statistically, men have more car accidents than women, so insurance companies commonly charged men (and, in particular, young men) higher premiums for motor insurance
statistically, women are more likely to claim under health-related insurance policies than men, so insurance companies commonly charged women higher premiums for such policies
These results followed from putting men and women in different classes for the purpose of risk assessment. It is obviously possible for insurers to calculate the cost of annuities or the premium for
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This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
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