Berkshire Hathaway Specialty Insurance Company

Geico was just an absolute monster, gobbling up market share and passing Allstate to become the number two U.S. auto insurer.

They also launched a brand new commercial division, Berkshire Hathaway Specialty Insurance, led by Peter Eastwood.

But the real magic word we need to dissect here is float.

Float is perhaps the most powerful financial concept to understand when analyzing this company.

yeah no and this is i feel like this is just one of those topics that we need to talk about on an annual or every every now and then situation because i feel like it gets lost sometimes you might just do your annual renewal and then never think about it but this is the time that we're starting to think about a little bit more for people that might not have seen our session before or are brand new um what what is berkshire hathaway what do you do how did you get into the travel industry?

Yeah, so our trade name is Berkshire Hathaway Travel Protection, which is owned by Berkshire Hathaway Specialty Insurance out of Boston.

So we were an acquisition company about eight years ago, actually nine years ago now.

Prior to that, we were Insure America, which was actually started, if you know anything, if you If you're almost retired in this industry, you'll know the name I'm about to mention, and that was John Noel.

So he was basically the creator of travel insurance as we all know it today through a former company, Travel Guard.

So after that company was sold off to AIG, he loved the travel industry, started Insure America, which was then sold to Berkshire Hathaway Specialty Insurance.

So John is no stranger to mega insurance companies out there.

And so for the past nine years, we've been working under the BHSI, as they refer to it as, under their banner.