Insurance isse - Nagico, BVI

[Lserpa]

Hi all.

I am having an issue with a BVI based insurance company called Nagico. Boat was struck by lightning and now they refuse to pay the claim basing on a technicality of which they are responsible.

Three questions:
a) Can someone advise a lawyer based in the BVI who is used to files against insurance companies?
b) Is there an arbitrage body in Tortola for this kind of conflits?
c) Is there a consumer-protection organism in the BVI? Owners are Americans and non resident but own a BVI company, in case this is relevant.

Thanks in advance for your advise.

[svlamorocha]

I am sorry. Guess why did those Americans set up the business in the BVI if they are not there?

[svHyLyte]

Originally Posted by svlamorocha

I am sorry. Guess why did those Americans set up the business in the BVI if they are not there?

Ah... Nagico is a Dutch Company headquartered in St. Maarten that heavily relies upon reinsurance issued by other companies in several countries outside the EC. The Company has a fair AM Bests rating. I suspect the OP's issue/problem is with the "technicalities" of his/her policy and not something easily addressed on a sailing forum save, possibly, for a referral to legal services in the locale, eh? I wish him/her good luck.

[Shrew]

...they refuse to pay the claim basing on a technicality of which they are responsible

Obviously we don't know the details, however if the coverage is being denied as a result of a mistake in the policy coverage, the agency should be able to get it covered under their 'Errors and Omissions' policy.

[SouthernPride]

You/they will not succeed in any way, shape, or form. Also do you really think any attorney in the Caribbean knows what they are doing or not in bed with insurance agencies down there.

You/they are better off spending the money they would waste on legal fees on boat repairs.

I don't trust anyone in the Caribbean. If my mother moved to the Caribbean i would not trust her anymore.

Good luck,

[tuffr2]

Policies are being written now with a small class that states a 'Named Storm' is covered differently or not at all. Very very bad for the consumer.

[rourkeh]

I would forget the idea of legal recourse in the BVI's. I had my boat painted by one of Nanny Cay Marina's service providers and they tried to rip me off so I hired a lawyer and took them to court. Big mistake. The cost of legal fees and the ability of the locals to game the system make it impossible to litigate. I would have spent more than the boat was worth to resolve the issue legally. And if I won I could not have recovered my legal costs.

[Hud3]

^^^^ what rourkeh said.

I lived in the Caribbean for six years. I saw that sort of thing happen quite a few times. The legal deck is stacked in favor of the local vs. the foreigner (they call foreigners "non-belongers" in the BVI; that should tell you something). On Nevis cases typically were quickly decided in favor of the local or dragged out interminally, running up legal costs.

[Pete O Static]

Yeah, the legal system in Tortola is not your friend. We had our house robbed when living there. The thief was caught and all of our stuff was held as "evidence". Eventually, the robber was let go and upon his release, they handed him all of our stuff he had stolen. Never saw it again, never got it resolved. Was cheaper to replace the items.

Sadly, the BVI is destroying itself.