UK Money News
25th April 2008
EU driver influx driving up insurance costs
The influx of motorists from overseas on UK roads is driving up the cost of car insurance premiums, it has been claimed.
According to LV=, between 2001 and 2007 the number of drivers from the EU using British roads has risen by 50 per cent.
Meanwhile, the volume of HGV traffic has also increased over this period by 33 per cent, with foreign drivers accounting for much of the increase.
John O'Roarke, managing director of LV=, said: "There has been a steep rise in drivers from other European countries over the past few years and our report shows the cost of insurance claims, accidents and potential congestion has escalated as well."
In response, Mr O'Roarke called for the authorities to address the problem addressed by imposing more stringent driving standards.
"For the safety and benefit of all drivers on UK roads - both UK and foreign nationals - we believe the tightening of driving standards across the EU should now be a government priority."
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