No, it specifically states "travellers under the age of 18 who are travelling with vaccinated parents or guardians — will also be exempted from the BVI gateway portal".

I've asked for clarity on the insurance. I very seriously doubt they are going to require proof of insurance. They may say it's required and then not ask to see it. After going thru the arrival process on Saturday, I can't imagine they will expect anyone in that process to review and be able to understand insurance policies. I think it's going to be on the traveler to protect themselves.