Business Services Industry
Buffett makes the case for finite cover.(News)
Business Insurance, May, 2005 by Gonzales, Gloria
Byline: GLORIA GONZALEZ OMAHA, Neb.-Finite risk products are a valid and valued form of risk transfer, despite the regulatory scrutiny currently dogging the coverage, said Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. "There is nothing at all wrong with finite insurance,'' Mr.
Buffett said during the company's annual shareholders meeting on April 30. "We're issuing finite insurance policies every day. And there's nothing wrong, in my view, at all with retroactive contracts.'' Mr. Buffett defended the use of finite coverage in response to a shareholder question, one of several related to finite reinsurance. But while Mr. Buffett made general comments defending finite risk, he would not comment on testimony he gave to...
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