The CEO of MarketScout says Berkshire Hathaway's hiring of four seasoned executives away from American International Group could disrupt commercial market rate increases should the company decide to enter the primary marketplace to expand its market share.
In this month's release of the online insurance exchanges' market barometer, CEO Richard Kerr says Berkshire could affect the steady rate of increase the P&C industry has enjoyed if it plans "to enter the primary property and casualty market in a meaningful way."
He cautions that his views are speculative, but he notes that rumors point to Berkshire possibly launching "a new multi-line admitted underwriting company."
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