Friendly Society: ‘Bentley Is Not A Member’
Following recent media reports, the Bermuda Friendly Societies Association [BFSA] said they wish to “make it clear that it is not part of, or in any way involved with, Bentley or with the organization known as Bentley Friendly Society.”
Last month the Transport Control Department [TCD] said that “individuals with a Bentley Mutual Insurance Company certificate who are operating a car or cycle “should immediately consider that they are uninsured.”
The statement from TCD advised holders of Bentley insurance coverage that they are not insured under the Motor Car Insurance [Third Party Risks] Act 1943, and advised them to “contact one of Bermuda’s insurers with authority to insure third party risks and procure a policy.”
In response, Kevin Bean-Walls of Bentley Mutual said that they are “being attacked by established insurers because they do not want Bermudians to have the option that we offer.”
Mr. Bean-Walls said that their “policyholders/members have been authorized by the Bermuda government under the Friendly Society Act 1868 to retain their own risk of loss.”
However, the BFSA said they wish to “point out that the Bentley Friendly Society is not now, nor has it ever been, a member of the Association.
“Furthermore, the BFSA is not associated with or involved in any business arrangements or relationships – commercial or otherwise – with either the Bentley Friendly Society or the Bentley Mutual Insurance Company.”
The full statement from the Bermuda Friendly Societies Association is below:
In the light of recent media reports concerning insurance coverage provided to the Bentley Friendly Society by Bentley Mutual Insurance Company, The Bermuda Friendly Societies Association [BFSA] wishes to make it clear that it is not part of, or in any way involved with, Bentley or with the organization known as Bentley Friendly Society.
Established in 2001, The Bermuda Friendly Societies Association currently consists of the following registered member organizations:
- Alexandrina Lodge, No. 1026, Grand United Order of Oddfellows
- Loyal Flower of the Day Lodge, No. 6347, Independent Order of Oddfellows, Manchester Unity
- Loyal Irresistible Lodge, No. 6357, Independent Order of Oddfellows, Manchester Unity
- Princess Royal Union Lodge, No. 135, (Independent Order of Good Samaritans and Daughters of Samaria)
- Household of Ruth, No. 61, Grand United Order of Oddfellows
- Loyal Mayflower Lodge, No. 9387, Independent Order of Oddfellows, Manchester Unity
For the avoidance of doubt, the BFSA wishes to point out that the Bentley Friendly Society is not now, nor has it ever been, a member of the Association.
Furthermore, the BFSA is not associated with or involved in any business arrangements or relationships – commercial or otherwise – with either the Bentley Friendly Society or the Bentley Mutual Insurance Company.
Bentley is owned by its policyholders. Bermudians have the right in law to retain their own risk. OIL Insurance is a mutual, State Farm is a mutual, New York Life is a mutual, etc. – why can’t Bermudian have their own?
Bentley doesn’t have the wherewithal to pay claims. It’s only got about 50 policy holders so there is no way it’s got enough income to be able to pay for anything significant.
The companies you list have billions of dollars in equity and can easily handle a significant loss. Bentley does not.
Friendly Societies can, but “Bentley” is not a Friendly Society. Just like Oil insurance, this group needs to go apply for a licence from the BMA.
All the mutuals you mention are well capitalised and regulated. If Bentley wanst to join their ranks, then it should do it properly instead of being a “pretend insurer”.
Looks like someone is trying to make a buck through less that forthright dealings.
Might also point out that there is no registered entity in Bermuda called the “Bentley Mutual Insurance Company”. It’s all pixie dust.
It’s very disrespectful to friendly societies, lodges, and other fraternal organisations when persons claim to be one of them, but are actually, not. The above release indicates that Bentley are acting as…. Smh