Mr. Justin Moran:

It can vary, on age and jurisdiction. For example, in Britain there is a company, Herts Insurance, which specifically targets drivers over the age of 80 because they are seen as safer drivers and they driver more slowly. There are senior discounts available in the United States. That tends to go up to maybe the age of 75 and at that point, the discount goes. There are issues at that point that kick-in in terms of older drivers.

Part of the challenge is trying to understand how the premiums are arrived at and how they are determined. For example, there is a phenomenon called low-mileage bias which was certainly prominent in terms of how insurance premiums were carried. It was basically calculated that for the amount of distance an older person drove, he or she was more likely proportionately to have accidents. This explains why one needed to pay higher insurance premiums. Research discovered in the late 1990s and 2000s that the reason drivers are having those accidents is because they drive less, not because of their age, and that has a knock-on effect in the premiums that are set. When one accounts for age, older drivers are not having more accidents. The fact is that those who drive less, regardless of age, are more likely to have accidents. It is seeing this research and then marrying this with the increases in the car insurance premiums that we find challenging.