Investors Worry Insurance Probes May Snare Berkshire
In a 2003 annual report, Warren Buffett described Berkshire Hathaway Inc.'s sale of "retroactive" insurance policies, which can help corporate clients burnish their financial statements, as "a few jumbo policies that are likely to produce underwriting losses ... but also provide unusually large amounts of float," or money for Berkshire to invest.
Now regulators are scrutinizing these kinds of policies
