A graduate of the University of Missouri, Seth Koppes is a financial services leader committed to developing innovative financial products that meet the individual needs of his clients. Since 1993, he has served as the CEO of Bancorp Services in St. Louis, Missouri. In addition, Seth Koppes possesses a strong passion and extensive understanding of the insurance sector.
In January 2023, two American auto insurance companies (Progressive and State Farm) stopped writing policies for older Kia and Hyundai models in some states, including Colorado and Missouri. The rationale behind their action is that these older models are vulnerable to theft.
Some Kia and Hyundai models from 2015 through 2019 lack essential auto theft prevention technologies that are standard in contemporary models. One example of these features is an electronic immobilizer, which stops a car from moving if a key that does not belong to the car is used to start it. Only 26 percent of Kia and Hyundai models from 2015 through 2019 have electronic immobilizers. The CNN website's data revealed that Kias and Hyundais's theft rate spiked in the past few years.
The Hyundai Motor Group holds a significant portion of ownership in Kia, and many of the vehicles produced by Hyundai and Kia have similar engineering. To address the security issue, both automakers announced that they are developing free security software for models that originally didn't have electronic immobilizers.
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