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Disaster Losses Cut Q3 Berkshire Hathaway Profits by 43%

Warren Buffett’s Berkshire Hathaway Inc. said Friday that its third-quarter profit fell 43 percent because of a $1.4 billion insurance underwriting loss from Hurricanes Harvey, Irma and Maria and earthquakes in Mexico. The Omaha, Nebraska-based conglomerate owns Geico and several … Source: Claims Journal

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Google, AutoNation Partner on Self-Driving Car Program

Google is partnering with AutoNation, the country’s largest auto dealership chain, in its push to produce self-driving cars for wide use. AutoNation said Thursday that its dealerships will provide maintenance and repairs for Waymo’s self-driving fleet of Chrysler Pacifica vehicles. … Source: Claims Journal

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AIG Earnings Miss Estimates on Storms

Even with one of the costliest hurricane seasons on record, large insurers in the U.S. tended to post third-quarter results that topped Wall Street’s estimates. The exception is American International Group Inc. AIG announced Thursday that its loss for the … Source: Claims Journal

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Michigan Bill to Cut Auto Insurance Premiums Rejected

A bill to reduce auto insurance premiums was defeated late Thursday by the Michigan House, another blow for longstanding efforts to rein in medical costs contributing to the highest average rates in the country. After hours of behind-the-scenes arm twisting … Source: Claims Journal

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CNA Slip and Fall Study Finds Flooring Often to Blame

The results released in a Slip and Fall Study Report by CNA, an insurance and risk management services provider for businesses and professionals worldwide, reveal that tested floors in 50 percent of the surveyed sites failed to produce a dynamic … Source: Claims Journal

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Sweeping Changes Recommended by Navy After Ship Collisions

U.S. Navy leaders are recommending a sweeping list of changes in sailor training, crew requirements and safety procedures to address systemic problems across the Pacific fleet that led to two deadly ship collisions earlier this year that killed 17 sailors, … Source: Claims Journal

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Kidde Recalls 40M Fire Extinguishers That May Not Work

More than 40 million fire extinguishers in the U.S. and Canada are being recalled because they might not work in an emergency. The U.S. Consumer Product Safety Commission says on its website that it’s aware of one death because of … Source: Claims Journal

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