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1. reinsurance refers to the sharing of risk by the insurance companies by buying policies form the various insurers to minimize the total loss to the original issuers. the re examination was due to the prevailing market competition.
2. they can only decide through analysis of the financial reports
3. float refers to the funds that are invested for its own purposes. . float is used in the expansion and diversification of the business.
4. this is due to the business strategies that are used.
5. yes, because it is more convenient.
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When posting your discussion response, make sure that you answer the following questions and provide a link of a site that supports what you have provided for your discussion response. If you do not add a link along with your discussion response you will receive half of the credit for the discussion assignment.
What is reinsurance? What has caused Berkshire Hathaway to re-examine its reinsurance business?
How should a business like Berkshire Hathaway decide whether it is time to scale back one of its lines of business?
What is float? Why has Warren Buffett always liked insurance because of float?
Why do you think it has taken so long for competition to drive out high profits in the reinsurance industry?
Berkshire already sells car insurance to individuals over the internet, and it is planning to move into online insurance targeting small and midsize businesses. Would you buy insurance online? Why or why not?
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