Don Wurster

Don Wurster is a key manager at National Indemnity Company (NICO), specializing in reinsurance and long-tail liability.

📍 Origin

Mentioned in the 1983 Letter as the manager responsible for two high-potential insurance areas: Structured Settlements and the assumption of Loss Reserves.

📖 Key Responsibility

• Structured Settlements: Selling periodic payments (usually monthly for life) to claimants. Buffett highlighted that claimants choose NICO because of its unparalleled financial strength—a critical factor for payments spanning decades.
• Loss Reserves Assumption: Acquiring large blocks of expired business from other insurers. NICO's financial condition makes it a preferred transferee for companies wishing to exit specific lines of business.

🔗 Connections

• Entity: National Indemnity Company
• Source: 1983 Letter
• Concept: Insurance Float