BVD Insurance

T

tracker37

Member
Apr 24, 2024
48
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Toronto, ON
5
Does anybody have any experience dealing with them?

Setting up a carrier who uses them, can't find much on them on the web.

Any concerns should there be a claim?
 
Every carrier we have in our system that is using BVD Insurance are with Liberty Mutual.
 
From what I have heard but take this all with a grain of salt because my information is not firsthand, is that BVD is providing an insurance product where they cover a certain portion of the claims and purchase re-insurance for the rest. It is no different than some of the Mutual insurance companies in ON that offer non-commercial home and auto policies. By the sounds of it, Liberty Mutual is backing the policies provided by BVD. If BVD goes down, Liberty Mutual will have to pony up.
It sounds like BVD has moved to a company that provides 'all things trucking'. They offer Insurance, factoring, fuel cards, fuel locations, equipment finance, equipment sales, equipment repair and real estate. A 'one shop does it all' deal.

Now, where have I heard of a company that was similar? Hmmmm? (PRIDE GROUP)
 
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Jim L said:
From what I have heard but take this all with a grain of salt because my information is not firsthand, is that BVD is providing an insurance product where they cover a certain portion of the claims and purchase re-insurance for the rest. It is no different than some of the Mutual insurance companies in ON that offer non-commercial home and auto policies. By the sounds of it, Liberty Mutual is backing the policies provided by BVD. If BVD goes down, Liberty Mutual will have to pony up.
It sounds like BVD has moved to a company that provides 'all things trucking'. They offer Insurance, factoring, fuel cards, fuel locations, equipment finance, equipment sales, equipment repair and real estate. A 'one shop does it all' deal.

Now, where have I heard of a company that was similar? Hmmmm? (PRIDE GROUP)
Click to expand...
Pride missed out on insurance.
It's similar to a Five star/Armour captive with Chubb. BVD has put in funds and probably have a high deductible limit so all claims up to that limit are settled by them. Anything over will be re-insured through Liberty.
They were trying to setup an insurance brokerage but weren't able to do so and I think they partnered with their own broker DG Bevan.
 
Ins-Broker said:
Pride missed out on insurance.
It's similar to a Five star/Armour captive with Chubb. BVD has put in funds and probably have a high deductible limit so all claims up to that limit are settled by them. Anything over will be re-insured through Liberty.
They were trying to setup an insurance brokerage but weren't able to do so and I think they partnered with their own broker DG Bevan.
Click to expand...
Until the actuator arbitrarily raises the PICK and IBNR. Then everyone is scratching their heads.
 
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