Common use of Fleet Insurance Clause in Contracts

Fleet Insurance. Where the Company has fleet insurance, such insurance (and any discounts) shall be continued unless otherwise mutually agreed in writing. This insurance coverage will be underwritten by the Insurance Corporation of British Columbia (ICBC). For owner operators, payment of such coverage may be made in full by the owner operator at the time of issuance or be reimbursed to the Company at a rate of prime plus 1.0% over a deduction period of nine (9) months, or the balance of the term, whichever is shorter. In the event of an accident where the owner operator is found at fault under fleet insurance, the owner operator shall cover the cost of the deductible as stipulated under the applicable insurance policy governing that Owner Operator. The Company shall provide owner operators and the Union with the actual invoices for insurance coverage for a particular truck upon request.

Fleet Insurance. Where the Company has fleet insurance, such insurance (and any discounts) shall be continued unless otherwise mutually agreed in writing. This insurance coverage will be underwritten by the Insurance Corporation of British Columbia (ICBC). For owner operators, payment of such coverage may be made in full by the owner operator at the time of issuance issuance, or be reimbursed to the Company at a rate of prime plus 1.0% over a deduction period of nine (9) months, or the balance of the term, whichever is shorter. In the event of an accident where the owner operator is found at fault under fleet insurance, the owner operator shall cover the cost of the deductible as stipulated under the applicable insurance policy governing that Owner Operator. The Company shall provide owner operators and the Union with the actual invoices for insurance coverage for a particular truck upon request.