The biting petrol blockade could produce a £60m windfall for motor insurers, an insurance expert claims.

Motor claims are running at 75,000 per week according to the Association of British Insurers, and are expected to fall dramatically as petrol becomes scarcer.

Nigel Munns, actuarial consultant at Bacon & Woodrow, has calculated that the insurance industry will save 1% on its annual £6bn claims bill for each week the blockade succeeds in reducing car mileage by 50%.

The saving to insurers this week could be £60m.