LV= Insurance: Foreign drivers cost the UK £795 million

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LV= Insurance: Foreign drivers cost the UK £795 million

Fri 25th Apr 2008

Liverpool Victoria (LV=) has conducted a study into the impact of drivers from the European Union on UK roads - and predicted that they will cost the economy £795 million this year.

It took into the account the cost of insurance claims, accidents and potential congestion to reach the figure.

The bank's report found that the number of foreign EU drivers resident in the UK has more than doubled since 2001, from 534,000 to 804,000.

Drivers from the Republic of Ireland are the most common on Britain's roads, followed by Germans, Poles, Italians and French.

John O'Roarke, managing director of LV= general insurance, called on the government to do more to improve driving standards across the EU.

"The development of the EU has enabled people to be much more mobile in their lives and work, however, there appears to have been little forward planning to cope with the impact of this," he said.

In related news, recent research from MoneyExpert.com found that nearly 350,000 motorists have broken the law by getting behind the wheel without adequate insurance cover.

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