Overall net income fell at giant Berkshire Hathaway in the third quarter from $30.1 billion a year ago to $10.3 billion this third quarter, reflecting losses on insurance underwriting as well as the continuing effects of global supply chain issues …
A Missouri woman is suing GEICO after contracting a sexually transmitted disease in a car insured by the company. The woman, identified in District Court documents as M.O., had a sexual relationship with the insured, M.B., in late 2017 including …
Berkshire Hathaway’s insurance division produced a mixed performance during the 2021 second quarter. Rate increases generally carried the day, though the conglomerate’s GEICO unit dragged down earnings. Berkshire Hathaway’s insurance division produced $376 million in net underwriting earnings during Q2, …
With GEICO’s 2020 underwriting profit more than doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income was in the black, even though the conglomerate’s P/C reinsurance units saw underwriting losses in both years. Taken together, $3.4 …
Class action lawsuits were filed in Nevada against 10 major auto insurance companies this week, contending that the companies charged excessive insurance premiums during the pandemic by failing to account for a drop in driving and crashes. The lawsuits acknowledge …
In a dispute between two insurers, a federal appellate court ruled that GEICO is solely liable for the cost of replacing a Lamborghini worth more than $100,000 that was totaled in a collision with another vehicle. A panel of the …
Auto insurer GEICO recently named a new officer and promoted two others. Jonathan Shafner was promoted to vice president and general counsel, and John O’Keefe was promoted to vice president and chief information security officer with responsibility for data operations, …
Berkshire Hathaway Inc. had a tough second quarter with the pandemic taking a toll on most of its operating businesses including Precision Castparts aircraft parts, the BNSF railroad, Occidental Petroleum Corp., Kraft Heinz Co. and retailers including See’s Candies that …
Berkshire Hathaway’s Geico, the country’s second largest auto insurer, is being targeted by a potential class action for allegedly overcharging its policyholders during the pandemic. A lawsuit filed in federal court in Illinois alleges that the 15% “Geico Giveback” premium …
Berkshire Hathaway’s property/casualty insurance and reinsurance businesses reported a first quarter underwriting profit of $747 million before taxes, nearly double the pretax underwriting profit of $377 million recorded for first-quarter 2019. Property/casualty and life insurance and reinsurance businesses combined recorded …
