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Bond Insurance
A sector of insurance where Berkshire entered (BHAC) during the financial crisis.
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📜2008 LetterExcerpt Available▼
2008 LetterExcerpt Available
Tax-Exempt Bond Insurance
At the request of our customers, we write a few tax-exempt bond insurance contracts that are similar to those written at BHAC, but that are structured as derivatives. The only meaningful difference between the two contracts is that mark-to-market accounting is required for derivatives whereas standard accrual accounting is required at BHAC.