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European Court of Justice: unisex rates are required

The European Court of Justice (ECJ) has ruled: Insurance have to offer in the future uniform rates for women and men. Old contracts are not affected. The industry fears costs.
The sex must not be more than one risk factor in the cost estimate received from insurance contracts. This is what the judges in Luxembourg on 1 March held (Aktzenzeichen C-236/09). Different fees for women and men are therefore discriminatory.
The insurance industry has now to 21 December 2012 time to change their insurance rates and offer unisex rates. The Court referred in the grounds of the EU Equality Directive of 2004th This gender neutral unisex rates are in principle already from 21 December 2007 provided. The insurance industry had been relying on exemptions.
Equality Directive is on 21 December 2012 be reviewed. Thus the objective of equality is not undercut, exceptions are permitted after that date in any case the verdict of the judges in Luxembourg.
The small difference
insurance rates have so far been calculated according to statistical risk. The sex is one of the determining factors: How have women because they live statistically longer, pay higher fees for private pensions than men. For the fair sex often paid less for the Motor Insurance , because women on average build fewer accidents.
The industry estimates that it now comes to cost increases across the board. The General Association of German Insurers (GDV) warned in advance of the ECJ decision in tariff increases. Consumer advocates see no basis for it. They point to the introduction of a uniform tariff in the Riester pension , after which the "Riester contributions have increased only moderately.
Source: www.dasinvestment.com

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Marc Faber: government bonds and bank deposits are not secure more

fight for oil, money glut-all everywhere: The famous Swiss investment professional will recommend to buy gold and silver.
When economic crises and geopolitical tensions dominate world affairs, it is to have as gold and silver. This position is supported by Marc Faber. The famous Swiss investment professional and author (Gloom, Boom & Doom Report) recently spoke at an investor conference in Bangkok. In his opinion, government bonds and bank deposits are not secure more protection from market fluctuations.
"The U.S. wants to keep interest rates low and expanding the money supply in order to reduce public debt, which is four times larger than the economic performance," Faber said, according Comodity Online. The believe that the Interest rates below the inflation rate. And that is an ideal environment to invest in gold and silver. Government bonds and financial investment on the other hand would lose its value.
What about equities? "There will be times as from 1990 until 2008 when gold is more developed than equities, and vice versa in 2009. But the key is flexibility. We do not know how the world looks like in 10 years, "said Faber.
He expects either way, still higher precious metal prices. The increasing demand for oil in emerging Asian countries and the revival of U.S. energy demand could lead to a worsening geopolitical crises in the Middle East and other oil-producing regions. This will also boost the prices of raw materials and precious metals.
Source: www.goldreporter.de