This is correct..... If the company were to get into a lawsuit, the discovery portion is where both parties give each other their evidence (like videos). If you, a company driver, had additional evidence, you would have to turn it over.

Since it is recording made while on the clock (and potentially used for work), it can be considered a work product and under the company's ownership/responsibility.

So, using the accident example, if there was a lawsuit, the company would be required to provide your video. Failure to do so would get them in trouble with the courts.

That's where the liability comes in. It's potential evidence that the company is responsible for that they might not even know about and have no control over (for example, retention schedules).

So.... Every accident/incident you are in, you would need to provide your camera recording to the company. Taking a nom-scummy view, most companies don't want the hassle of having to track who has what personal camera and what it records and then trying to manage the video/players, etc, line up times and dates, etc.... that's the main reason they buy full on systems and ban personal devices (and should have standard across the board recording policies). It gives legal and standard method to review and release evidence with no surprises. Lawyers hate surprises.

Side note, you or your company would need to retain your accident videos.... Not sure what jurisdiction you are in, but assuming no crimes were committed (like they didn't crash into after doing a robbery), you'd be looking at 2 years and 30 days (as a rule of thumb - could be much longer depending on the jurisdiction). Once a lawsuit is filed, that time is frozen until all appeals and decisions are made. Then a different retention time might kick in. It can vary a lot from state to state.