Compliance Innovations, LLC is a Columbia, SC based company developing an Electronic Vehicle License Plate. Our license plate will have the capability to retain the image without power for up to 10 years. It also allows the issuing agency or law enforcement the capability to change the status of the license plate, regardless of the vehicle location, when the compliance status changes to expired or suspended.
The ability to immediately and visibly revoke a license plate will require owners to comply with insurance and registration laws resulting in decreased financial losses for insurance companies, lower premiums for owners and an increased and equitable revenue collection for government jurisdictions. The interface with law enforcement will help provide a means to more quickly identify vehicles that are stolen, associated with serious violations or used in the commission of a crime.
automobile collisions of uninsured motorists in the United States are estimated to exceed $150 billion. Canadian estimates place financial losses at $7.5 billion. Insurance industry estimates place the uninsured motorist population in each U.S. jurisdiction at a range of between five percent and 30 percent.
least one uninsured vehicle, based on responses to the Insurance Research Council (IRC) 2001 Public Attitude Monitor survey. Another 2001 IRC study, based on an analysis of claims, estimated that 14 percent of drivers are uninsured.
drivers to maintain insurance, about one in seven motorists remain uninsured," according to Elizabeth Sprinkel, senior vice president, who heads the IRC. "This means that responsible drivers who carry insurance must bear the burden of paying for injuries caused by drivers who carry no insurance at all.