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 …
Berkshire Hathaway Inc.’s annual meeting will be nothing like the extravaganzas of years past, but will give Warren Buffett a chance to show how resilient his cash-rich conglomerate may be to the coronavirus pandemic, and the investment opportunities it offers. …
More insurers are coming forward every day with discounts, extended coverage and relaxed payment terms for insureds affected by shelter-in-place and other conditions required during the coronavirus crisis. Progressive Insurance announced it is providing approximately $1 billion to its drivers …
More auto insureds and small businesses are getting a break on their insurance premiums to help them through the coronavirus crisis. Auto insurer GEICO said it will give back approximately $2.5 billion in the form of a 15 percent credit …
An Idaho man was sentenced for insurance fraud in violation of Idaho code after reportedly purchasing a 1992 Mercedes for $700 and then adding the vehicle to an existing policy with GEICO. Hester then filed a claim for damages done …
Warren Buffett doesn’t expect Todd Combs, one of his two key investing deputies, to be at auto insurer Geico long. Buffett’s Berkshire Hathaway Inc. tapped Combs in December to become chief executive officer of its Geico unit. He replaced Bill …
An insurance company must reimburse a Kansas man for the personal care his wife provided after he was injured in an automobile accident, the state Supreme Court ruled in rejecting that spouses are required to provide such support without compensation. …
Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. Berkshire Hathaway’s GEICO has been one of the few among the top 10 largest personal auto insurance carriers …
Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional auto insurers. “The success of the auto companies …
Steady improvement for U.S. personal auto insurance companies has culminated in the sector’s best underwriting performance in 10 years, according to Fitch Ratings in a report. The market improvement was driven by the three biggest auto insurers. The U.S. personal …
