Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 157

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 157
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 unpaid losses and loss adjustment expenses primarily derive from medical professional liability and workers’ compensation and other casualty insurance, which includes commercial auto and general liability insurance. Net losses and ALAE incurred and paid are summarized by accident year in the following tables, disaggregated by medical professional liability and workers’ compensation and other casualty coverages. IBNR and case development liabilities are as of December 31, 2024. The cumulative number of reported claims reflects the number of individual claimants and includes claims that ultimately resulted in no liability or payment. Dollars are in millions. Medical Professional Liability Estimates of the ultimate expected losses and loss adjustment expenses incurred for medical professional claim liabilities are based on a variety of commonly accepted actuarial methodologies, such as the paid and incurred development method and Bornhuetter-Ferguson based methods, as well as other techniques that consider insured loss exposures and historical and expected loss trends, among other factors. These methodologies produce loss estimates from which we determine our best estimate. In addition, we study developments in older accident years and adjust initial loss estimates to reflect recent developments based upon claim age, coverage and litigation experience. 

        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)

        2015
         
        $
        1,374

        $
        1,342

        $
        1,269

        $
        1,290

        $
        1,218

        $
        1,157

        $
        1,093

        $
        1,033

        $
        1,016

        $
        1,010

        $
        37

        12

        2016

        1,392

        1,416

        1,414

        1,394

        1,341

        1,288

        1,216

        1,188

        1,172

        78

        15

        2017

        1,466

        1,499

        1,495

        1,474

        1,