Washington Administrative Code › Title 480 - Utilities and Transportation Commission › Chapter 480-51 - Commercial ferries › Section 480-51-070 - Insurance

Current through Register Vol. 24-14, July 15, 2024
(1)
Liability
			 and property damage insurance or surety bond.
(a) Prior to the commission issuing a
			 certificate, and prior to the commission issuing a registration to a common
			 carrier ferry operating passenger-carrying vessels, each applicant shall file
			 with the commission evidence of currently effective liability and property
			 damage insurance or a surety bond, the form of which is set out below, written
			 by a company authorized to write such insurance or bond in the state of
			 Washington, covering each vessel to be used under the certificate or
			 registration granted. Coverage shall be for not less than the following
			 amounts:
$100,000
for any recovery for personal injury by one person,
							 and
$1,000,000
for all persons receiving personal injury and
							 property damage by reason of one act of negligence, and
$50,000
for damage to property of any person other than the
							 insured, or
$1,000,000
combined bodily injury and property damage liability
							 insurance.
(b)
			 Evidence of insurance shall be submitted on either a certificate of insurance,
			 filed in triplicate with the commission, or a written binder issued by an
			 insurance agent or insurance company evidencing the coverage as required above.
			 If a binder is submitted, it shall be effective for not longer than sixty days,
			 during which time the operator must file the required certificate of
			 insurance.
(c) Form of surety bond.
"
Know all persons by these
							 presents:
That we of the City of , State of
							 Washington, as principal, and , a corporation organized and existing under and
							 by virtue of the Laws of the State of Washington under the laws thereof, as
							 surety, are held and firmly bound unto the State of Washington, in the just and
							 full sum or lawful money of the United States of America, upon each and every
							 vessel operated by the principal herein in the amounts as set out in the
							 schedule above for the payment of which well and truly to be made, do hereby
							 bind ourselves, or heirs, executors, administrators, successors and assigns,
							 severally by these presents.
Signed, sealed and dated this day of
							 19.
This bond is written in pursuance of and is
							 to be construed in accordance with
							 chapter
							 81.84 RCW, and the rules
							 and regulations of the Washington Utilities and Transportation Commission,
							 adopted thereunder; is to be filed with the State for the benefit of persons
							 who sustain damage or injury from the negligent operations of any and all
							 vessels operated by the company (principal herein) under and by virtue of its
							 certificate or registration granted by the Washington Utilities and
							 Transportation Commission, and Tariffs and Time Schedules filed
							 thereunder.
SCHEDULE
$100,000
for any recovery for personal injury by one
							 person and
$1,000,000
for all persons receiving personal injury and
							 property damage by reason of one act of negligence, and
$50,000
for damage to property of any person other
							 than the insured, or
$1,000,000
combined bodily injury and property damage
							 liability.
Now, therefore, the condition of this
							 obligation is such that if the said principal in accordance with the provision
							 of chapter 81.84
							 RCW, shall pay all damages for personal injuries which may be sustained by any
							 person or any damage to property of any person other than the assured, by
							 reason of any act of negligence on the part of the said principal, its agents
							 or employees in the operation of vessels in transporting persons and property
							 for compensation, under its Certificate of Public Convenience and Necessity or
							 registration issued by the Washington Utilities and Transportation Commission,
							 and Tariffs and Time Schedules filed thereunder, then this obligation to be
							 void, otherwise to remain in full force and effect.
This bond may be cancelled by the surety at
							 any time by filing written notice with the Washington Utilities and
							 Transportation Commission stating when the cancellation shall be effective, but
							 in no case shall such cancellation notice be effective until thirty (30) days
							 after the receipt of such notice by the Washington Utilities and Transportation
							 Commission.
Principal
Surety
"