The ABI is launching a campaign to push the issue of young drivers up the road safety agenda.
Government figures issued recently showed that while the total number of deaths on Britain's roads fell by 8% there has been a shocking 12% rise in the number of 16-19 year-old drivers and passengers killed on Britain's roads last year.
Stephen Haddrill, director general of the ABI, said: "Reducing accidents involving young drivers should be the number one road safety priority for Britain.
"Research carried out by the insurance industry shows that teenage drivers are 10 times more likely to be killed or seriously injured while driving than motorists in their 40s. We need a massive effort from everyone to end this tragedy."
The ABI's research reveals that in 2003, 17-18 year old men were more than twice as likely to make an insurance claim as 30-59 year old men and that the average cost of a motor claim was much higher for young drivers.