Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 158

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 158
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739

        877

        977

        2018

        35

        166

        367

        543

        728

        949

        1,080

        2019

        39

        160

        314

        536

        757

        963

        2020

        34

        148

        321

        531

        767

        2021

        36

        136

        333

        548

        2022

        38

        182

        441

        2023

        28

        156

        2024

        34

        Losses and ALAE paid

        6,802

        Net unpaid losses and ALAE for 2015 – 2024 accident years

        8,940

        Net unpaid losses and ALAE for accident years before 2015

        492

        Net unpaid losses and ALAE

        $
        9,432

       * Unaudited required supplemental information 

K-92

Notes to Consolidated Financial Statements (16)Unpaid losses and loss adjustment expenses Workers’ Compensation and Other Casualty We evaluate ultimate loss and loss adjustment expense estimates for workers’ compensation and other casualty claims using a combination of commonly accepted actuarial methodologies such as the Bornhuetter-Ferguson and chain-ladder approaches using paid and incurred loss data. Paid and incurred loss data is segregated and analyzed by state due to the different state regulatory frameworks that may impact the duration and amount of loss payments. We also separately study the various components of liabilities, such as employee lost wages, medical expenses and the costs of claims investigations and administration. We establish case liabilities for reported claims based upon the facts and circumstances of the claim. The excess of the ultimate projected losses, including the case development estimates over the case-basis liabilities, is included in IBNR liabilities.  

        Losses and ALAE Incurred through December 31,

        CumulativeNumber of

        AccidentYear
         
        2015*

        2016*

        2017*

        2018*

        2019*

        2020*

        2021*

        2022*

        2023*

        2024

        IBNR and CaseDevelopmentLiabilities

        ReportedClaims(in thousands)

        201