Discrimination is good. A dictionary definition is "the power of making fine distinctions", so it's a synonym for good judgement. Most insurance is based on discrimination.
Of course, unfair discrimination is not good at all. Discriminating on grounds of race, gender, sexuality, religion or any of many other criteria is unacceptable without good justification. But what is good justification? Most insurance discriminate between males and females. Life insurance and motor insurance is generally cheaper for women than for men, because women live longer on average and are (allegedly) safer drivers. On the other hand, medical insurance and annuities are generally more expensive for women. Similarly, insurance discriminates by age. Older people are likely to liv...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes