Destructive wildfires are now an almost routine part of summer in the American West, and electrical utilities have likewise become used to having their power lines and equipment blamed for igniting the blazes. But a jury verdict last month ordering …
After returning to New York from Oslo in late May, Harley Hendrix noticed her suitcase containing a cherished Alexander McQueen dress had been diverted to Copenhagen. Also rotting in Denmark: packs of cheese that Hendrix had stuffed into the suitcase …
Berkshire Hathaway Inc.’s PacifiCorp was sued by Oregon wineries claiming that smoke from wildfires ignited by the utility’s equipment in 2020 destroyed their grape harvests, resulting in tens of millions of dollars in damages and lost wine sales. The lawsuits …
Even though Berkshire Hathaway’s GEICO achieved a 93 first-quarter combined ratio, an enviable result measured against industry peers, the leader of Berkshire’s insurance operations said the figure is not a true indication of where the business is today. Answering a …
Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy prediction for his own businesses: the good times may be over. The billionaire investor expects earnings at the majority of …
A Brazilian reinsurer entered a non-prosecution agreement and will pay $5 million to resolve a U.S. probe into a false story that the company had received a significant investment from billionaire Warren Buffett’s Berkshire Hathaway Inc. The U.S. Department of …
Billionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he’s no longer around to lead the conglomerate. Buffett said shareholders shouldn’t worry about the future of the company after Vice Chairman Greg Abel takes over because …
A three-judge panel of the Second Circuit Court of Appeals has affirmed a district court ruling that Berkshire Hathaway’s Covington Specialty Insurance Co. had no duty to indemnify its insureds against personal injury claims stemming from an auto accident at …
Berkshire Hathaway Inc. agreed to better explain how its board of directors manages risks, including those taken by longtime Chairman Warren Buffett, after the U.S. Securities and Exchange Commission asked that it do a better job. In correspondence made public …
Berkshire Hathaway recorded its first full-year underwriting loss since 2017—but a small one—as strong profits from reinsurance operations were almost enough to counterbalance the deteriorating results from the conglomerate’s personal lines insurer GEICO. In fact, while GEICO’s pretax underwriting loss …
