Top Workers’ Comp Story of 2019: Berkshire Hathaway’s Sale of Applied Underwriters
The news that Berkshire Hathaway was in talks to sell its workers’ compensation unit, Applied Underwriters, caught readers’ attention in February and was easily Insurance Journal’s biggest workers’ compensation story of the year then and as the deal played out. A deal happened in October, when Applied Underwriters was sold back to its original founder for $920 million. In-between, there were reviews of the deal by state regulators, a move of the carrier from California to New Mexico, and a series of complaints by California authorities over the transactions. Insurance Journal covered the deal from start to finish:
- Berkshire Hathaway in Talks to Sell Workers’ Compensation Unit Applied Underwriters
- Berkshire Hathaway Sale of Applied Underwriters Said Due to ‘Channel Conflict’
- States Reviewing Proposed Sale of Workers’ Comp Specialist Applied Underwriters
- Sale of Applied Underwriters Still Under Review; Cayman Islands Insurer Likely Involved
- Court Orders California Insurance Company Conserved in Another Development in Applied Battle
- Applied Underwriters Sold to Founder in $920M Deal
- California Balks at Applied Underwriters Sale, Questions Subsidiary’s Move to New Mexico
- Applied Underwriters Responds to California Department of Insurance Effort to Halt Sale
- New Mexico Explains Role in Enabling Applied Underwriters Sale