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Iteris and Maverick Report a 65 Percent Reduction in Accidents
ANAHEIM, Calif--Iteris Inc. (AMEX:ITI), a leader in vision-based technologies and Intelligent Transportation Systems that optimize traffic flow and enhance driver safety, today announced that Maverick USA has achieved a 65 percent decrease in lane departure preventable accidents since deploying Iteris' Lane Departure Warning (LDW) system. Lane departure preventable accidents include sideswipe, inadvertent lane changes, and run-off road accidents.
Maverick USA, based in Little Rock, Ark., began upgrading the safety of its national fleet of 1,000 trucks with initial deployments of the Iteris LDW technology in December 2004. That year, Maverick's fleet traveled a combined 110 million miles and had a lane departure preventable accident rate of 0.21 per million or one every 4.75 million miles traveled. Trucks currently equipped with Iteris' LDW systems have traveled 40.7 million miles and have experienced a lane departure preventable crash rate of 0.07 per million or one every 13.56 million miles traveled. This represents a decrease of 65 percent, a significant number considering the substantial costs associated with heavy truck crashes.
According to studies conducted by the Federal Motor Carrier Safety Administration (FMCSA), the average cost of an accident involving a large truck is more than $75,000. Read more at businesswire.com
Motorcycles Are More Likely To Be Involved In A Fatal Collision With A Fixed Object
In 2004, 26% of the motorcycles involved in fatal crashes collided with fixed objects, compared to 18% for passenger cars, 12 percent for light trucks, and 4 percent for large trucks.
Definition:
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Salvage
Definition:
Property taken over by an insurer to reduce its loss.
Binder
Definition:
A temporary or preliminary agreement which provides coverage until a policy can be issued/delivered.
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