Article ID: 733ceec94cc05f7f369025e5e2239b5c7abbef9d025a06285cc58e62a519caa2
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Hartford, Berkshire unit settle asbestos reinsurance dispute - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Hartford, Berkshire unit settle asbestos reinsurance dispute by Gavin Souter Asbestos & Environmental , Coverage Disputes , P/C Insurers , Reinsurance Berkshire Hathaway , The Hartford Insurance Group Inc. Sep 28, 2026 The Hartford has received $1.12 billion from a Berkshire Hathaway unit to commute an asbestos and environmental reinsurance agreement and settle an arbitration dispute between the companies, the insurer disclosed Friday. Hartford Fire Insurance and affiliates agreed with Berkshire Hathaway unit National Indemnity to terminate the adverse development cover, which had been in place since Dec. 31, 2016, according to a regulatory filing. The agreement also resolved an arbitration over a dispute under the reinsurance contract. Hartford disclosed the arbitration earlier this year but has not publicly disclosed the nature of the dispute. A Hartford spokesman declined to comment. Hartford began collecting recoveries from NICO under the coverage during the first three months of 2026, according to a first-quarter filing. NICO subsequently suspended further payments during the quarter because of the dispute. Hartford entered into the ADC agreement with National Indemnity in December 2016, paying a $650 million premium for $1.5 billion of protection above approximately $1.7 billion of existing net asbestos and environmental reserves. By the end of 2024, Hartford had incurred $1.5 billion in cumulative adverse development ceded under the agreement, exhausting the treaty limit, according to company filings. Hartford said the commutation will result in a $497 million pretax gain and increase net income by $393 million for the third quarter and first nine months of 2026. 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