Lates News

When asked about when and how to provide insurance for ships passing through the Strait of Hormuz, the Vice Chairman of Berkshire Hathaway's insurance business, Ajit Jain, gave a concise answer: "The short answer is it depends on the price." Jain said, "We have indeed participated to a small extent in a project that has been set up to provide insurance for ships passing through the Strait of Hormuz. But no transactions have been finalized yet." Jain also pointed out that a key condition for underwriting in this project is that the U.S. Navy will provide escort for the ships. "If we can meet our underwriting conditions, we will underwrite such risks at a price level that we believe is appropriate."