Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 156

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 156
---
 of claims expected (reported and unreported) for each significant coverage based on historical data, from which reported claims are deducted to produce the estimated number of unreported claims. The product of the average cost per unreported claim and the number of unreported claims produces the IBNR liability estimate. We may record supplemental IBNR liabilities in certain situations when actuarial techniques are difficult to apply. 

K-90

Notes to Consolidated Financial Statements (16)Unpaid losses and loss adjustment expenses GEICO’s net auto physical damage and liability losses and ALAE incurred and paid are summarized by accident year below. IBNR and case development liabilities are as of December 31, 2024 and are net of estimated salvage and subrogation recoveries. Claim counts are established when accidents that could result in a liability are reported and are based on policy coverage. Each claim event may generate claims under multiple coverages and may result in multiple counts. The “Cumulative Number of Reported Claims” includes the combined number of reported claims for all auto policy coverages. Dollars are in millions.Physical Damage 

        Losses and ALAE Incurred through December 31,

        CumulativeNumber of

        AccidentYear

        2023*

        2024

        IBNR and CaseDevelopmentLiabilities

        ReportedClaims(in thousands)

        2023

        $
        12,273

        $
        11,900

        $
        111

        7,430

        2024

        11,095

        (454
        )

        6,380

        Losses and ALAE incurred

        $
        22,995

        Cumulative Losses and ALAE Paid through December 31,

        AccidentYear

        2023*

        2024

        2023

        $
        11,567

        $
        11,771

        2024

        10,495

        Losses and ALAE paid

        22,266

        Net unpaid losses and ALAE for 2023 – 2024 accident years

        729

        Net unpaid losses and ALAE for accident years before 2023

        156

        Net unpaid losses and ALAE

        $
        885

       Auto Liability 

        Losses and ALAE Incurred through December 31,

        CumulativeNumber of

        AccidentYear
         
        2020*

        2021*