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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
Speeding-Related Crashes Is Estimated To Be $40.4 Billion Per Year
Speeding is one of the most common factors to traffic crashes. The economic cost to society of speeding-related crashes is estimated by NHTSA to be $40.4 billion per year. In 2004, speeding was a contributing factor in 30% of all fatal crashes, and 13,192 lives were lost in speeding-related crashes.
Definition:
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
Negligence
Definition:
The absence of ordinary care.
Subrogation
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.
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