Brokers and Brokerage

by Freddie Mooche

Business Brokerage Berkshire Hathaway was dragged into the insurance kick-back scandal prompted by New York Attorney General Eliot Spitzer that is now being investigated by the SEC.If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.

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Berkshire Hathaway is the largest US reinsurer and also owns auto insurer Geico Corp. The SEC is looking into whether Berkshire's policies function like loans and improperly help the company smooth earnings.Berkshire's policies account for $10 billion of its reserves. An amount equal to one fifth of its insurance reserves, putting Buffet's company in the center of the SECs probe.Buffet's company is the seventh insurer to receive requests for information on their policies by the SEC.

Online Brokerage Dec 30, 2004 (AXcess News) Omaha - Berkshire Hathaway (NYSE: BRK.A) was dragged into the insurance kick-back scandal prompted by New York Attorney General Eliot Spitzer that is now being investigated by the SEC.Warren Buffet's company, Berkshire, said it was cooperating with the SEC investigation.

Finally, almost all insurance companies and brokers will not accept Letters of Experience from brokerages. While your previous broker can assist you in getting the letter from your insurer, they cannot write the letter. The letter needs to come from the insurance company directly. If you are having trouble contacting your previous insurer for your Letter, we can help. Send us an email with the name of your previous insurance company and we will assist you in obtaining this letter by sending you in the right direction.

Real Estate Broker Berkshire Hathaway is the largest US reinsurer and also owns auto insurer Geico Corp. The SEC is looking into whether Berkshire's policies function like loans and improperly help the company smooth earnings.Berkshire's policies account for $10 billion of its reserves. An amount equal to one fifth of its insurance reserves, putting Buffet's company in the center of the SECs probe.Buffet's company is the seventh insurer to receive requests for information on their policies by the SEC.

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Agency Brokerage Spark Analysts believe that Berkshire is one of the most active risk reinsurers in the industry and expected it to be in the middle of the investigation.

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Business Broker Shares of Berkshire Hathoway A closed up $300 at $89,100 Thursday.Advertisement

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