Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire Hathaway Reinsurance Group, personal lines powerhouse GEICO …
Anyone looking for more evidence of a strengthening U.S. economic recovery need only consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits. Even though Berkshire’s Warren Buffett …
A western Pennsylvania woman will stand trial on charges she fraudulently applied online to insure her daughter’s car less than an hour after an accident, and then had her daughter to lie about the time of the crash. Forty-two-year-old Heidi …
GEICO, an auto insurer based in Maryland, has been fined $100,000 for a computer database error that caused the company to overcharge thousands of its Washington state customers. GEICO is also refunding $7.5 million, plus 8 percent interest, to the …
GEICO is launching a new Facebook app called “GEICO Shortcuts,” which will give GEICO policyholders access to their insurance information using the functionality of the popular social networking site. “Facebook’s dramatic growth has significantly changed the way people consume information,” …
A Pennsylvania court has ruled that an exclusion in underinsured motorist coverage for injuries incurred while on a motorcycle applies to motorcyclists injured after being thrown off their bikes. An underinsured motorist coverage from Allstate contained an exclusion for injuries …
Warren Buffett’s conglomerate Berkshire Hathaway Inc. reported a larger second-quarter profit Friday, as favorable investment results and strength in the rail and manufacturing businesses offset another underwriting loss in insurance. The 80-year-old “Oracle of Omaha” warned in April the insurance …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of Government Employees Group (GEICO) and its property/casualty members. Best also affirmed the ICR of “aaa” as well as the …
