Unisex Legislation

Filed Under »
Dictionary Says

Definition of 'Unisex Legislation'

A statutory law that prohibits insurance companies from taking into consideration gender when developing insurance classifications, rates or types of coverage for certain types of insurance. When unisex legislation applies, all people, regardless of gender, must be give the same rates and types of coverage. Not all types of insurance fall under unisex legislation. For example, most men pay higher rates than women for identical automobile insurance coverage.
Investopedia Says

Investopedia explains 'Unisex Legislation'

In 1978, the United States Supreme Court first prohibited gender-based divisions in insurance in City of Los Angeles, Department of Water and Power v. Manhart. In 1983, the courts again prohibited gender-based insurance distinctions in Arizona Governing Committee for Tax Deferred Annuity and Deferred Compensation Plans v. Norris. Insurance companies have resisted any legislation that would restrict their ability to use gender-based distinctions in developing insurance classifications, rates and coverages.

Articles Of Interest

  1.

    Is Your Insurance Company Going Belly Up?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.

  2. Are You Protected If Your Insurance Company Goes Belly-Up?

    Consumer protection against insurance company failures actually falls into the hands of state governments. How much protection do you have?

  3. How An Insurance Company Determines Your Premiums

    Find out how insurers use credit history to build an insurance score and how it could affect your bottom line.

  4. Operational Risk: A Must-Know For Investors

    This type of risk is often overlooked, but it can mean the downfall of a company - and its investors.

  5. Insure Your Future With A Career As An Actuary

    If you've got excellent math skills, they can add up to a lucrative career as an actuary.

  6. What changes might I need to make to my insurance policy?

    The number one thing to remember about insurance is that, just like everything else, it changes over time. The top-of-the-line policy that you bought five years ago might not even be available ...

  7. The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.

  8. Life Insurance Clauses Determine Your Coverage

    Understanding these key parts of your policy will help you to ensure that your family will be covered.

  9. Why would you want a monthly benefit versus a daily benefit?

    An insurance benefit is the amount of money paid to or on behalf of the policyholder. Depending on what kind of insurance policy the policyholder signs up for, the payments are made directly ...

  10. How do I choose which insurance company to use?

    Picking an insurance company to use is not an easy task, considering the financial crisis of 2008 and 2009. Several financial institutions and insurance companies have gone out of business, merged ...
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=5a57e9129489321db72b376b512b4807