Car insurance has been around in the UK almost as long as there have been cars. The first car insurance policies were written in the late 1890s, with Scottish Employers Liability Company known to be among the first to cover against personal accident, damage and third party motor risks. It became mandatory to insure your motor vehicle under the 1930 Road Traffic Act, which – as well as abolishing all speed limits for cars – introduced such offences as dangerous and careless driving. Today, the law is regulated under the Road Traffic Act 1988 and requires motorists to either be insured or to deposit £500,000 with the Accountant General of the Supreme Court against liability for injury to others and for damage caused to their property. The UK insurance industry is supported by the Association of British Insurers, which is more than 200 members strong and was formed in 1985 to represent the industry in public policy and regulatory debates, as well as promoting UK insurers at home and overseas. Thatcham Research, a car insurance industry body launched in 1969, provides the joint ABI and Lloyd’s Group Rating Panel which establishes the insurance group of every private car registered in the UK.