On March 11th, Bedivere Insurance Company was declared insolvent and ordered into liquidation in Pennsylvania. As part of the liquidation, the liquidator will take control of the company and state guaranty funds will be triggered to protect policyholders. Policyholders must submit a proof of claim for each claim and each policy by December 31, 2021 to preserve their rights to recover from the estate. At this time, policyholders may file a policyholder protection claim to preserve the right to make claims in the future. We do not expect Bedivere to make any distributions to policyholders for several years, if not longer.
Bedivere, formerly OneBeacon Insurance Company, is the surviving entity of the four companies acquired in 2014 by Armour Holdings from White Mountains Insurance Group. The other three companies, Lamorak Insurance Company (formerly OneBeacon America Insurance Company), Employers Fire Insurance Company, and Potomac Insurance Company were merged into Bedivere in late 2020. Bedivere is also the successor to many legacy insurers from the US operations of Commercial Union and General Accident.
Bedivere has been in run-off since 2013, though much of its liabilities date back decades and include asbestos, environmental, and other long-tail risks. Additional information, including a copy of the proof of claim form, can be found on the liquidation’s website. KCIC will continue to monitor for developments.
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Nick Sochurek has extensive experience in leading complex insurance policy reviews and analysis for a variety of corporate policyholders using relational database technology.Learn More About Nicholas