NEW YORK—Warren Buffet’s Berkshire Hathaway is in the commercial market for the long haul, despite new capital potentially dampening the momentum of rate increases.
Peter Eastwood, president of Berkshire Hathaway Specialty Insurance, says the influx of alternative capital in the form of catastrophe bonds and sidecars, as examples, has a “market cycle-dampening effect,” and he doesn’t expect the types of dips and spikes in rates associated with prior market cycles.
"That's sort of the way the industry is going to work on a going-forward basis," says Eastwood, sitting in as part of an panel of executive at the Advisen Property Insights Conference June 11.
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