The UK has approximately one percent of the worlds population however the UK insurance industry is the third biggest in the world. It is the biggest in Europe, it controls seventeen percent of investment in the London stock market and employs 339 000 people, almost one third of all financial sector jobs. In 2005 seventy-two percent of all households in the United Kingdom purchased motor insurance with an average spend of 556GBP. This statistic might have something to do with the fact that Britain has one of the lowest car-owner to population ratios on the planet and that all motor vehicles that are on the road in Britain must have at least third party motor insurance. This typically means an annual contract with an insurance provider to protect them against unforeseen incidents. However there are other types of car insurance available, including short term insurance that cover employment laws uk s a named driver to operate a vehicle for a period between 1 and 28 days, this is known as short-term car insurance or day car insurance. Day car insurance can be obtained by most providers and covers any temporary additional drivers including overseas visitors and temporary additional cars. It can also covers unaccompanied vehicle demonstrations, the use of courtesy cars, the lending of a car to another named driver and immediate drive-away insurance if you have just bought a car. Some providers offer free day car insurance for this purpose through vehicle vendors as an incentive for the customer to renew on an annual agreement, however the customer has no obligation to do this. Temporary or short-term car insurance is available for any car which is taxed and legal to drive with a UK driving license providing the named driver has a full UK, European other valid driving license.