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Search resuls for: "The Insurance Institute"


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Small business insurance like property, liability, and business interruption are key to helping protect against major risks. By assessing the threats to your small business and putting resources in place to prevent and mitigate them, you can help keep your small business running. Your insurance agent can also help you analyze your small business and identify types of coverage that may help safeguard it against potential risks. Here are five types of risks to consider, along with some ideas to help protect yourself and your small business. State Farm offers Small Business Insurance for a wide range of small businesses.
Organizations: State, The Insurance Institute, Business, US Chamber of Commerce, US Small Business Administration, Farm, Small Business Insurance, Insider Studios
That’s made home insurance increasingly unaffordable or even inaccessible – and that’s leaving more people in the same position as the Daneaus. California’s largest insurer, State Farm, requested a 30% rate increase for its homeowner’s line last month. Last year, California Insurance Commissioner Ricardo Lara reached an agreement with insurers with an aim to cover approximately 85% of properties in high-risk areas. “[My insurance plan] wasn’t canceled but my insurance company increased the rates quite a bit,” she said. But he cautioned there’s no guarantee of that, leaving homeowners like the Daneaus grappling with uncertainty.
Persons: Los Angeles CNN —, Michael, Kristy Daneau’s, Kristy, Michael Daneau, Kristy Daneau, That’s, “ We’re, ” Michael, , aren’t, Justin Sullivan, California’s, it’s, ” Michael Daneau, Ricardo Lara, Kristy Daneau's, what’s, Steve Hawks, Woolsey, Angela Wilson, LAEPF, Wilson, Brent Woodworth, there’s, “ I’m, we’ve, CNN’s Camila Bernal, Sarah Moon Organizations: Los Angeles CNN, Gas & Electric, Insurance Information Institute, California Department of Insurance, Farm, State, CNN, FAIR, California FAIR, California, Golden State, The Insurance Institute for Business & Home Safety, Institute for Business & Home Safety, for Business & Home, Los, Emergency Preparedness Foundation Locations: Cohasset, California, Paradise , California, Santa Monica, Malibu
CNN —Measuring about half the length of a Ford F-150, Kei trucks look almost like toys in comparison to your standard pickup truck. Instagram page Kei Trucks Appreciation Society (@keitrucksas) sells Kei truck-themed merchandise from hoodies to stickers and posts memes for its more than 95,000 followers. On X, Kei truck fans share pictures of mini trucks they spot in the wild. Most states lack Kei-specific regulation entirely, and so far, only 19 states allow Kei trucks on public roads. And data from Edmunds showed that Americans were trading in more midsize and large pickup trucks for compact trucks than vice versa.
Persons: Kei, , George Zotos, Bill Pugliano, Zotos, Tetsu Ichino, , I’ve, it’s, Andrew O’Bright, Kei truck’s, ” Zotos, Melissa Torre, Torre, Mark Schirmer, Mercedes ’ Smart, ” Schirmer, Ford, Edmunds, Ivan Drury, Drury, Organizations: CNN, Ford, Silverado, American International Detroit Auto, Research, JDM Imports, Philadelphia, Torre, Daihatsu, Cox Automotive, Mercedes, Benz, Insurance Institute for Highway Safety, Ford Maverick, Hyundai, Hyundai Santa Cruz Locations: Japan, New York, Detroit , Michigan, Rockville , Maryland, Maryland, Chicago, Kei, U.S, Hyundai Santa
About half a million light vans are sold in the United States every year, with many of those going to companies like Amazon and FedEx. Light vans are those with a gross vehicle weight rating of less than 10,000 pounds. Lane departure prevention technology could have helped prevent or, at least, reduce the seriousness of, about 11% of those fatal crashes. That tech could help prevent 37% of fatal crashes involving delivery vans, the Institute said. In more than 60% of crashes and more than half of fatal crashes, the occupant of another vehicle or a pedestrian or cyclist was killed or injured.
Persons: Ram ProMaster, Ram, Van Organizations: CNN —, Amazon, FedEx, Insurance Institute for Highway Safety, Ford Transit, Mercedes Sprinter, Institute, Stellantis, IIHS, Ford Locations: America, United States
A new study found that driver-assistance systems may create new safety risks. The Insurance Institute for Highway Safety tested 14 automation systems across nine manufacturers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Driver-assistance systems have been billed as a tool to help make long drives safer, but a new study found the technology can actually create new safety risks by more easily allowing a driver's attention to wander.
Persons: Organizations: Insurance Institute for Highway Safety, Service, Business
Automated driving systems are lacking in the safety department, according to a new report. Tesla's Full Self Driving system earned the worst marks, but most of the 14 systems tested poorly. Some say that autonomous and assisted driving systems are responsible for fatal crashes. AdvertisementYou may want to think twice before flipping on your autonomous driving system on the highway. The agency tested 14 systems, 11 of which received a "poor" overall safety rating.
Persons: , David Harkey, Tesla, Ford Organizations: Service, Insurance Institute for Highway Safety, National, Traffic Safety Administration, CNN, Ford, Mercedes, Benz, Nissan, General Motors, Insurance, Google Locations: California, Los Angeles, San Francisco
CNN —The Insurance Institute for Highway Safety, which rates cars and SUVs for safety, examined so-called advanced driver assistance systems such as Tesla Autopilot and found them wanting. Of the 14 systems tested by the agency, 11 earned a “poor” rating including Tesla’s Autopilot and so-called Full Self Driving systems. Insurance Institute test drivers also looked at what would happen if the driver became incapacitated with the automated driving system in use. Of the systems tested, only GM’s Super Cruise handled that sort of situation the proper way, according to the Institute. The Insurance Institute will continue to monitor software updates and improvements and will periodically retest the systems, Harkey said.
Persons: , David Harkey, Harkey, , ” Harkey, ” Nissan, Ford, BlueCruise, ” Ford Organizations: CNN, The Insurance Institute for Highway, Ford, Nissan, , Insurance, ” Insurance, Traffic, Administration, The Insurance Institute, Institute, The, . Insurance, Cruise, Tesla, GM, Insurance Institute for Highway, Insurance Institute
In Europe and Asia, many cars offer adaptive driving beam headlights that can do this. But that still means driving much – or most – of the time using only low beam headlights that don’t reach very far. That means it will probably be years before ADB headlights are widely available in the US. But, while driving, the lights work just like standard high beam, low beam headlights. It will be years before they can offer new, redesigned ADB headlights that meet the standards, auto industry sources say.
Persons: , , Michael Larsen, Larsen, Matt Brumbelow Organizations: CNN, ADB, Traffic Safety Administration, NHTSA, Ford, Volkswagen, Insurance Institute for Highway, Society of Automotive Engineers, ” Audi, , General Motors, Society of Automotive, EU, Audi, Mercedes, Insurance Institute for Highway Safety Locations: Europe, Asia, China, Canada, United States, America, American
Car repairs are getting more expensive. Here's why
  + stars: | 2024-02-11 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +4 min
Your eyes aren't fooling you — your car repair bill really is getting more expensive. Repair costs are rising relative to the overall rate of inflation. Motor vehicle maintenance and repair costs increased 4.1% per year from November 2013 to November 2023, compared with just 2.8% for the overall consumer price index. Meanwhile, talent to repair cars is scarce. Many in the auto space think costs can't continue to rise at these rates.
Persons: David Goldsmith, Mitchell, hasn't, Matt Moore, Goldsmith, Ryan Mandell, Mandell, Alan Amici Organizations: Urban, Data, Insurance Institute for Highway, Mitchell, Technicians, Center for Automotive Research Locations: Brooklyn, New York City, U.S
The crash test highlights safety experts' concerns about faster and heavier EVs. AdvertisementA new video of a Rivian truck bursting through steel guardrails during a crash test highlights some of the safety concerns experts have raised about heavy electric vehicles. Bigger the car, deadlier the crashSafety experts have previously raised concerns about the risks heavy vehicles and heavier EVs could bring to the roads. In the UK, safety experts say the heavier weight could cause older parking garages across the country to collapse. "There is some urgency to address this issue," Cody Stolle, Midwest Roadside Safety Facility's assistant director, told the publication.
Persons: , Rivian, Ann Carlson, Charles Krupa, Kevin Heaslip, Politifact, Steve Patton, Alexa St, John, Zhe Ji, Myles Russell, they're, Cody Stolle, Ford Organizations: Service, University of Nebraska, Safety Facility, Nebraska Today, Midwest, Safety, National, Traffic Safety Administration, Reuters, Insurance Institute for Highway Safety, Center for Transportation Research, University of Tennessee, P Global Mobility, EV, Alexa, Ferrari, GMC, Ford, Madison Hall, McLaren, Anadolu, Getty, Research, Tesla Locations: Manchester , New Hampshire, Canadian, North America
Cellphones can track what we say and write, where we go, what we buy and what we search on the internet. But they still aren’t being used to track one of the biggest public health threats: crashes caused by drivers distracted by the phones. Safety experts say that current estimates most likely understate a worsening problem. Car crashes recorded by the police rose 16 percent from 2020 to 2021, to 16,700 a day from 14,400 a day, according to the National Highway Traffic Safety Administration, or N.H.T.S.A. But those figures do not capture all cellphone distraction; they include only crashes in which a police report specifically mentions such distraction.
Persons: , David Strayer, It’s, Jake Nelson, Organizations: National, Traffic Safety Administration, University of Utah, Traffic, Research, AAA, The New York Times, Insurance Institute for Highway Safety
Elon Musk's Cybertruck apocalypse
  + stars: | 2023-12-05 | by ( Adam Rogers | ) www.businessinsider.com   time to read: +8 min
In most regards, the sales pitch for Tesla's new Cybertruck doesn't differ in its particulars from the value proposition of any other pickup or SUV. But unlike the Cybertruck, its sales pitch has a curve: Musk has said all along that it's designed to be your go-to vehicle for the End of the World. "The apocalypse could come along at any moment, and here at Tesla we have the finest in apocalypse technology." If you believe in an apocalypse with trucks, you must also believe that someone will be maintaining the necessary infrastructure. In the early 20th century, when cars first came within financial reach of average Americans, the sales pitch focused on freedom of movement.
Persons: Elon, Musk, , It's, cofound, Ursula K, Le Guin, Ken Liu, Mike Pondsmith, Adam Rogers Organizations: SpaceX, Insurance Institute for Highway Safety, Cooperation Locations: Francisco, Megacity
Researchers at the institute looked at records of almost 18,000 incidents in which vehicles struck pedestrians. Tall front ends are common among full-size trucks and SUVs but they aren’t exclusive to very big vehicles. In general, vehicles with box-shaped front ends, even when they’re only medium height, are roughly 26% more likely to kill a pedestrian, according to the IIHS. NHTSA has also proposed adding pedestrian safety tests to its regimen of crash tests and other safety measurements for new vehicles. But automakers should also consider pedestrian safety in the design of their vehicles, IIHS president David Harkey said in a statement.
Persons: aren’t, IIHS, , Wen Hu, , that’s, Motors, Ford, David Harkey Organizations: CNN, Insurance Institute for Highway Safety, Research Transportation, Vehicles, Institute, Traffic, Administration, , Alliance, Automotive Innovation, NHTSA, U.S
Motor vehicles with higher, more vertical front ends raise risks for pedestrians, according to a highway safety organization. But among vehicles with hood heights between 30 and 40 inches, a blunt, or more vertical, front end increases the risk to pedestrians. Vehicles with hood heights of more than 40 inches and blunt front ends angled at greater than 65 degrees were 44% more likely to cause fatalities. “There’s no functional benefit to these massive, blocky fronts.”While sloping front ends did not reduce the risk posed by vehicles with the tallest hoods, they did make a difference for vehicles with hood heights of 30 inches to 40 inches. There was a 25% increase in the risk of a fatality for vehicles with flat hoods — those with angles of 15 degrees or less — compared with vehicles with more sloping hoods.
Persons: , Wen Hu, Organizations: The Insurance Institute for Highway Safety, IHS, Research Transportation Locations: U.S
REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - Four large pickup trucks fared poorly in tests measuring how rear seat passengers fare in some crashes, the Insurance Institute for Highway Safety said Tuesday. "Like most other vehicle classes, large pickups don't perform as well in the new moderate overlap evaluation as they do in the updated side test," said IIHS President David Harkey. IIHS said front seat safety has been boosted by improved airbags and advanced seat belts typically not available in the rear. The updated test uses a heavier barrier traveling at a higher speed to simulate the striking vehicle. In traffic crashes in 2021, 60% of pickup drivers who were killed were unrestrained - higher than other categories of vehicles.
Persons: Rebecca Cook, IIHS, Ram, David Harkey, Stellantis, David Shepardson, Christopher Cushing Organizations: Ford Motor Company, North American, REUTERS, Rights, Insurance Institute for Highway Safety, Ford, General Motors, Silverado, Toyota, Thomson Locations: Detroit , Michigan, U.S
New Chicago Mayor Brandon Johnson’s transition plan called for “restricting right turns on red,” but his administration hasn’t provided specifics. The college town of Ann Arbor, Michigan, now prohibits right turns at red lights in the downtown area. The United States is one of few major countries that generally allow right turns on red. Critics argue that banning right on red will not only inconvenience motorists but also slow down commuter buses and deliveries. Melinda Kasraie testified on behalf of Lovick's bill at a legislative hearing, sharing her experience being struck by a car turning right on red in Seattle.
Persons: Langerman, New Chicago Mayor Brandon Johnson’s, hasn’t, , Jay Beeber, “ What's, ” Beeber, , Bill Schultheiss, Jonathan Kincade, They're, we've, Priya Sarathy Jones, Mike McGinn, it's, Beeber, Sen, John Lovick, Melinda Kasraie, ” Kasraie Organizations: CHICAGO, Washington , D.C, New Chicago Mayor, San Francisco, , National Motorists Association, Safety, Toole Design, Washington Area, United Parcel Service, Justice Center, Governors Highway Safety Association, The Insurance Institute for Highway Safety, America, Traffic Safety Administration Locations: Chicago’s Lakeview, Washington ,, , Ann Arbor , Michigan, San, Los Angeles, Seattle, Denver, California, United States, U.S, New York City, Idaho, Chicago, Indiana , Maryland, Missouri, Illinois, Washington
The Dodge Charger SRT Hellcat is the most frequently stolen vehicle in the US, a nonprofit says. The nonprofit said it identified the top stolen cars from 2020 to 2022 based on a review of claims per insured vehicle. As you might expect, pricey cars like the Dodge Charger SRT Hellcat, which can cost more than $80,000, topped the list. AdvertisementAdvertisementThieves favor the Dodge Charger SRT Hellcat the most, stealing it about 60 times more frequently than the average car, IIHS said, landing it a relative claim frequency of more than 6,000. Here's the full list of the most stolen vehicles, according to IIHS: (as a reference point, the average relative claim frequency across all vehicles is 100):
Persons: IIHS, Organizations: Dodge, Kia, Hyundai, Service, FBI, Insurance Institute for Highway Safety
Why tornadoes are more destructive than ever in the U.S.
  + stars: | 2023-10-04 | by ( Katie Koontz | ) www.cnbc.com   time to read: +4 min
One hundred sixty-one people were killed in the Joplin tornado. The May 2011 Joplin tornado left behind almost $3 billion in damage, making it the costliest U.S. tornado on record. "Tornadoes are a big problem in the United States," said Anne Cope, chief engineer at the Insurance Institute for Business & Home Safety. Based on estimated wind speeds and damage, tornadoes can range on a scale from EF0 to EF5. "The reality is, is that all 50 states, including Alaska and Hawaii, receive tornadoes."
Persons: Troy Bolander, Ann Leach, Ann, Troy, Anne Cope, Cope, Joplin, Leach, Victor Gensini, Gensini Organizations: Joplin, Insurance Institute for Business & Home, of Commerce, Resilience Victoria, Department of, Northern Illinois University Locations: Joplin , Missouri, Kansas, Joplin, Troy, United States, U.S, Plains, Texas, Alaska, Hawaii, Midwest, Mississippi, Memphis, Indianapolis, Nashville
The lawsuits come after thousands of Hyundai and Kia thefts that use a method popularized on TikTok and other social media channels. The cities suing Kia and Hyundai include New York, Cleveland, San Diego, Milwaukee, Columbus and Seattle. Kia and Hyundai vehicles represent a large share of stolen cars in many U.S. cities, according to data from police and state officials. Many Hyundai and Kia vehicles have no electronic immobilizers, which prevent break-ins and bypassing the ignition. In May, the automakers agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles.
Persons: Edgar Su, Immobilizers, David Shepardson, Angus MacSwan Organizations: Singapore, REUTERS, Rights, Korean, Hyundai Motor, Kia Corp, Hyundai, Kia, Traffic Safety Administration, Insurance Institute, Highway, Data, Thomson Locations: Singapore, New York, Cleveland, San Diego, Milwaukee, Columbus, Seattle, U.S
Consider the simple roundabout — a traffic circle well known in Europe but less familiar across most of America. Proponents say roundabouts can dramatically reduce crashes, injuries and deaths, can improve traffic and even save a city a fair bit of money. "'Can you get rid of this traffic light near my house or near my business?' The Insurance Institute for Highway Safety, which is funded by the insurance industry and issues widely watched crash test ratings for vehicles, says roundabouts are considerably safer for drivers and pedestrians and cause much less congestion than traffic lights. We have been rated over and over by various organizations [as] one of the best places to live in the United States; one of the best places to retire; one of the best places to raise families; one of the best places for single people.
Persons: Mayor Jim Brainard, Brainard, Brainard's Organizations: Mayor, Insurance Institute for Highway Locations: Europe, America, U.S, Carmel , Indiana, Carmel, United States
CNN —The new all-electric Cadillac Escalade IQ shares virtually nothing with the boxy gas-powered Escalade, but it’s possibly the most important flag-bearer yet for the automaker’s transition to electric vehicles. So the new Escalade IQ has flashy light displays and electric motors able to produce a total of 750 horsepower. CadillacWhen it goes on sale next year, the Escalade IQ will be one of Cadillac’s most expensive models. Prices for the gas-powered Cadillac Escalade start at about $81,000, with the average one sold last year going for about $109,000 according to Edmunds.com. GM claims that the Cadillac Escalade IQ is the most aerodynamic large SUV the company has ever produced.
Persons: John Roth GM’s, Cadillac, , it’s, Mandi Damman Organizations: CNN, General Motors, GM, EV, Silverado EV, GMC, Hummer, Chevrolet Silverado, Insurance Institute for Highway Safety, Cadillac, GM’s Locations: Detroit, Hamtramck , Michigan
New York CNN —The National Highway Traffic Safety Administration proposed new rules this week that would require that new cars be equipped with automatic emergency braking with pedestrian detection. Automatic emergency braking, or AEB, is already standard on most passenger vehicles sold in the United States. If the driver fails to respond in time or with enough braking force, AEB systems will apply the brakes automatically. A recent study by the IIHS found that AEB with pedestrian detection reduced the risk of injury to pedestrians by about 30%. And pedestrian detection systems would need to demonstrate effectiveness in low light.
Organizations: New, New York CNN, Traffic Safety Administration, Insurance Institute for Highway Safety, Vehicles, NHTSA Locations: New York, United States, America
The climate crisis is becoming a financial crisis. This month, the largest homeowner insurance company in California, State Farm, announced that it would stop selling coverage to homeowners. That’s not just in wildfire zones, but everywhere in the state. “We’re just now seeing it.”In parts of eastern Kentucky ravaged by storms last summer, the price of flood insurance is set to quadruple. In Louisiana, the top insurance official says the market is in crisis, and is offering millions of dollars in subsidies to try to draw insurers to the state.
Persons: That’s, , Roy Wright, “ We’re Organizations: State Farm, . Insurance, Federal Emergency Management Agency, Insurance Institute, Business, Home Locations: California, Kentucky, Louisiana
CNN —National Transportation Safety Board chair Jennifer Homendy sharply criticized federal regulators Thursday for not doing enough to monitor and test automatic driving technologies. “The NTSB has called on regulators to set performance minimums for these features, to test vehicles rigorously against those standards and provide the results to consumers. That’s because the IIHS and Consumer Reports worked directly with automakers to get them to add it. “Consumer Reports and IIHS tried to get ahead of this because there was no movement from regulators,” she said. Consumer Reports test drivers will still use an actual interstate highway to test features that only function when the car recognizes that it’s on a divided highway.
Hyundai Motor Co (005380.KS) and Kia Corp (000270.KS) vehicles represent a large share of stolen cars in multiple U.S. cities, according to data from police and state officials. While most cars in recent years have been installed with industry standard anti-theft devices, the Korean automakers have no push-button ignitions and immobilizing anti-theft devices. Hyundai said its vehicles have engine immobilizers that prevent a vehicle from starting unless the correct key or fob is used, making it compliant with federal anti-theft requirements. "These specific models comply fully with all applicable federal standards, a recall is neither appropriate nor necessary under federal law," said Kia in a statement. U.S. theft claims were nearly twice as common for Hyundai and Kia vehicles compared with all other manufacturers among 2015-2019 model-year vehicles, the Insurance Institute for Highway Safety’s Highway Loss Data Institute said last year.
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