Applied Underwriters’ lengthy and growing list of battles with various state regulators and current or former insureds have been covered extensively here in Workers’ Comp Executive and is finally generating interest among national news outlets.
The Bloomberg news network has published a lengthy piece covering the history of the organization and many of these disputes over the legality of its workers’ comp programs – specifically the use of unfiled and unapproved reinsurance participation agreements (RPAs).
The Bloomberg report by Noah Buhayar covers the Berkshire Hathaway subsidiary’s troubles with its EquityComp and SolutionOne programs in California, New York, Wisconsin, Vermont and the emergence of regulatory reviews in additional states. Many of these issues have been extensively covered before in Workers’ Comp Executive. The Bloomberg piece delves into several of the on-going legal battles including the central one surrounding Shasta Linen’s time in the EquityComp program and Applied’s fight with Insurance Commissioner Dave Jones.
Bloomberg’s article can be found here.
Our extensive coverage some 30 articles – of the issues is here.
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Applied Underwriters was once but is no longer an affiliate of Berkshire Hathaway. Applied’s management bought it. Berkshire Hathaway bears no responsibility for any of the events which have transpired involving Applied Underwriters’ or its subsidiaries including California Insurance Company.