CruiseCam impresses risk managers at Vermont captive insurance conference

first_imgThe inventor of the world’s first seat video and imaging apparatus, CruiseCam International, Inc. (Pink Sheets: CCMC), impressed companies that manage the largest fleets in North America, which attended the annual Vermont Captive Insurance Association (VCIA) conference last month. Companies use captive insurance as an alternative to traditional insurance to reduce costs, enhance risk management, gain greater control over their insurance and directly access the reinsurance market. The VCIA conferees recognized the liability advantages of CruiseCam’s fully operational commercial vehicle seat with its latest generation Gemini near High Definition Digital Video Recording System compared to windshield camera systems.”You don’t have to be a race car driver to see that CruiseCam’s video and audio capability leaves behind competitors’ instamatic-type video cameras from both a liability and performance standpoint,” said Scott Watkins, a five-time Daytona Rolex 24 Hours driver who is president and chief executive officer of CruiseCam International, Inc. “The performance of captive insurance carriers – including losses from automobiles, workman’s compensation and property — directly affect the parent company and their budgets.”CruiseCam competitors typically use a hefty device glued to the windshield, recording less than a minute of video, that is turned on by a trigger method, typically from an accelerometer because of a vehicle accident.”Trigger methods fail to capture at risk driving habits, such as tailgating, running stops signs and lights, or speeding,” added Watkins. “Our product records all the miles travelled, so it captures the actions of the vehicle driver, other drivers and pedestrians that may lead to an accident. We then provide training videos through Driver’s Alert, Inc. to guide the driver back to safe operating habits.””CruiseCam has the utmost respect for today’s driving professionals, concluded Watkins. “It is their camera too and it will prove instrumental in their defense of actions of others that often are not readily apparent. Our camera system by their side can identify crimes committed on the roadways, and with management’s permission, they can get a DVD copy of their drive on some of the country’s most pristine roadways to share with their families when they return home.”The Vermont Captive Insurance Association (VCIA) is the largest captive insurance association in the world representing nearly 500 members. Captive owners comprise 53-63 percent of the membership. The Association works to ensure that the educational and networking opportunities and regulatory environment are conducive to the success of Vermont’s captive insurance industry and the industry as a whole.Vermont is the largest domicile in the United States for captive insurance and the third largest domicile in the world. Vermont is home to the captive insurance companies of 44 of the Fortune 100 and has 587 active captive insurance companies on its roster representing all industry types and sizes.VCIA hosted its 24th Annual Conference in Burlington, VT, August 11-13, 2009. Attendees numbered nearly 1,100 and came from 44 states and 8 countries. Of those attending, 22 percent were captive insurance owners. The conference featured 110 exhibitors offering the best products and services available to the captive insurance industry. www.vcia.com(link is external)About CruiseCam International, Inc. CCMC develops automobile, truck and military camera products. CruiseCam is the only Original Equipment Manufacturer video recording product in the market today and the only interior camera that is designed to meet the Federal Motor Vehicle Safety Standards for avoiding occupant injury through crash testing.www.cruisecam.com(link is external)Included in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The Company’s actual results could differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.SOURCE CruiseCam International, Inc. BURLINGTON, Vt., Sept. 30, 2009 /PRNewswire-FirstCall/ —last_img

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