Berkshire Hathaway
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BoatUS and National Liability & Fire Insurance allege criminal wrongdoing and have contested the $85,000 claim.
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The Madrid opening follows the firm’s move into the French market earlier in the year.
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Companies including Lloyd’s underwriters, Sompo Holdings, Berkshire Hathaway filed a lawsuit accusing primary insurers demanding “unreasonable allocation”.
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Terms of the deal for the workers’ compensation carrier have now been released.
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The changes come as regulators target more individual directors with enforcement action.
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P&C underwriting gains fell by 52.6 percent as all three major P&C business units contributed to weaker results. -
The sanction comes after Berkshire Hathaway agreed to sell its stake in the workers’ compensation carrier to United Insurance.
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The experienced executive was general manager of Germany at QBE Europe
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The deal comes amid regulatory probes into the workers’ compensation insurance unit.
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The group will start by underwriting property, casualty, executive and professional lines.
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Bill Sullivan will retire after six years leading Berkshire’s casualty construction team.
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Three will be a “significant asset” of Berkshire Hathaway in 10 to 20 years.
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