A Berkshire Hathaway Inc. unit is liable for destruction caused by the 2020 Labor Day Fires in Oregon, a jury concluded, exposing energy company PacifiCorp to potentially more than $1.5 billion in damages. Following a seven-week trial, a state court …
A Berkshire Hathaway Inc. unit was sued for allegedly causing California’s largest wildfire of the year, which killed four people and destroyed almost 200 structures near the Oregon border. The complaint against PacifiCorp, a power utility based in Portland, Oregon, …
Applied Underwriters Inc. and its subsidiary North American Casualty Co. has reportedly been acquired by Applied Underwriters founder Steve Menzies, who was joined in the acquisition by the Quasha Group led by Quadrant Management. The deal is valued at $920 …
It appears that the Berkshire Hathaway workers’ compensation unit Applied Underwriters is being sold in a large acquisition, which likely involves Cayman Islands-based United Insurance Co. A spokesman for the Applied confirmed that a deal is in the works, but …
U.S. property/casualty insurers’ investment position in other alternative investments as reported is concentrated within a few large insurers and is relatively stable as a percentage of invested assets for the last several years. Also, the attraction to alternative investments, including …
How do you remove hundreds of thousands of damaged cars from a massive city still mired in water and muck? Tow-truck driver Alex Toll will tell you: one vehicle at a time. Toll is part of an army of more …
California’s insurance commissioner said a Berkshire Hathaway Inc. insurance business evaded a state law designed to protect small businesses from unexpected workers’ compensation costs. Commissioner Dave Jones faulted Berkshire’s Applied Underwriters Inc. and California Insurance Co. units over the sale …
New York’s Financial Services Superintendent Benjamin Lawsky has directed insurers that are licensed to write commercial property or liability business lines in the state to submit information on how they are responding to Congress’ failure so far to reauthorize the …
Vhi Healthcare, the Irish state-owned medical insurer, extended a reinsurance accord with Warren Buffett’s Berkshire Hathaway Inc. as it seeks to move risk from its balance sheet and avoid a taxpayer bailout. Berkshire signed a one-year accord last July to …
A.M. Best has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and the issuer credit ratings (ICR) of “aaa” of the members of Government Employees Group (GEICO), based in Chevy Chase, Maryland, as well as the ICR of “aaa” …
