So let’s say Berkshire in 10 years goes under. If anymore claims surface, CNA would be responsible. You can’t transfer your risk after the fact. Well you can for the short haul, but overall it’s still your risk. I don’t know what CNA sees in this deal unless someone is getting rich behind the scenes.
Actually, it will fly as long as a formal novation agreement is executed between CNA and Berkshire Hathaway.
As long as the parties involved in the novation received approval for this transaction from the applicable state departments of insurance, then any default or insolvency by Berkshire Hathaway would in now way bring CNA back into the fold.
Asbestos testing is important for every home. It is not something you want to inhale. We just had our home here in Montreal tested before my wife and newborn came home from the hospital.
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So let’s say Berkshire in 10 years goes under. If anymore claims surface, CNA would be responsible. You can’t transfer your risk after the fact. Well you can for the short haul, but overall it’s still your risk. I don’t know what CNA sees in this deal unless someone is getting rich behind the scenes.
Actually, it will fly as long as a formal novation agreement is executed between CNA and Berkshire Hathaway.
As long as the parties involved in the novation received approval for this transaction from the applicable state departments of insurance, then any default or insolvency by Berkshire Hathaway would in now way bring CNA back into the fold.
Asbestos testing is important for every home. It is not something you want to inhale. We just had our home here in Montreal tested before my wife and newborn came home from the hospital.
here is a reference company http://www.bustmold.ca