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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
Since 1994, The Annual Truck Accident Fatalities Increased By 13%
The annual rate of truck accident fatalities has increased by 13% since 1994. There has been a significant increase in the amount of trucks on the highways since 1994, rising from about 6.6 million to 7.9 million registered trucks. Collisions with trucks account for one out of every eight fatalities on U.S. roadways.
Definition:
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
Total Loss
Definition:
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles.
Broker
Definition:
A person who for payment of a fee procures insurance on your behalf.
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