Company: BRK-A
Filing Date: 2025-03-25
Form Type: PX14A6G
Source: 0001214659-25-004756
Chunk: 1

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-03-25
Form: PX14A6G
Chunk 1
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 reaching
$417 billion and insured losses amounting to $154 billion. These catastrophe losses have had
dramatic impacts on the homeowners insurance market.

Homeowners insurance premiums nationwide rose by 34% between 2017 and
2023, increasing at a rate 40% faster than inflation. In the first quarter of 2024 alone, U.S. homeowner rates increased by
another 13%. Insurance availability has also declined as significant portions of states like California and Florida become uninsurable
due to climate-driven disasters. In 2023, 12% of U.S. homeowners lacked insurance coverage, up from 5% four years earlier.
This combination of increasing homeowner premiums and reduced insurance availability is leading to instability in housing and mortgage
markets, especially those hard hit by climate-heightened weather events.

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https://www2.deloitte.com/us/en/insights/industry/financial-services/bridging-the-gap-between-homeowners-insurance-companies-climate-change.html

https://www.climate.gov/news-features/blogs/beyond-data/2024-active-year-us-billion-dollar-weather-and-climate-disasters

https://www.ajg.com/gallagherre/-/media/files/gallagher/gallagherre/news-and-insights/2025/natural-catastrophe-and-climate-report-2025.pdf,
p.6

https://www.insurancejournal.com/news/national/2024/09/26/794409.htm;
https://www.newyorker.com/news/the-financial-page/the-home-insurance-crisis-that-wont-end-after-hurricane-season

https://www.npr.org/2024/03/03/1233963377/auto-home-insurance-premiums-costs-natural-disasters-inflation

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| 2025                                                 
 Proxy Memo                                           
 Berkshire                                            
 Hathaway Inc | Disclose Clean Energy Financing Ratio |

Berkshire is not exempt from these climate-related financial impacts.
Berkshire’s Property & Casualty reinsurance business saw its losses increase from $9.8 billion in 2021 to $12.6 billion in 2023;
during the same timeframe, losses to Berkshire’s Primary Insurance Group rose from $8.1 billion to $11.2 billion. In
2023, Berkshire’s subsidiary AmGUARD announced plans to drop over 50,000 homeowner and personal umbrella policies in California.

High insurance premiums and insurance non-renewals are fueling a potential