Mother Nature took a toll on Berkshire Hathaway Inc. in the third quarter.

Berkshire is likely to report big claims costs during the third quarter at its insurance subsidiaries because of natural disasters including Hurricanes Harvey and Irma.

Hurricane Irmas westward shift will probably inflict heightened damage on people and businesses unable to adjust to its new path in time, while the storm fuels floods that many insurance policies dont cover.

As Hurricane Irma edges closer to Florida, investors on Wall Street are watching a small insurer with an unusually big commitment to the state.

The insurance segment posted an underwriting loss of $22 million, compared with a gain of $337 million a year earlier.

The acquisition could be made through Berkshires General Re unit.

Applied Underwriters, a workers compensation insurer subsidiary of Berkshire Hathaway Inc., agreed to provide additional disclosure to customers about a product in California after a state review of potential abuses.

Right now, the funds from AIG are earning 'peanuts' for Berkshire, but there is potential for better returns