Agree that the loss isn't tangible but typically a plaintiffs attorney will send a demand for policy limits as a bogey. They really don't want to have the complexity and uncertainty of a defendants bankruptcy on their hands so they tend to target the highest amount they can get and get easily. Also factoring in this is that many plaintiffs attorneys take these cases on contingency so if they don't collect they don't get paid so they would prefer a quick and easy settlement and collect their 1/3....

So assuming you have isolated the asset from the rest of your assets through a trust or LLC the target will be the maximum they think they can collect without forcing the owner of the specific asset into bankruptcy. Typically therefore these cases end up at the caps of the defendants liability policies.

I assume this is a theoretical discussion so it surprises me that a US claim can pierce BVI assets and BVI incident especially given the reputation of the BVIs as a "legal" tax haven but again not an attorney.