How Much Each Year Can You Afford Losses Incurred As A Result Of Loss Of Earnings. Photo’ align=’left’ /> REUTERS/Rick Wilking/File Photo By Jonathan Stempel An insurance unit of Warren Buffett’s conglomerate Berkshire Hathaway Inc (BRKa.N) said it has sued Goodyear Tire & Rubber Co (GT.O) to avoid having to cover asbestos-related injury claims that Goodyear said nothing about for seven years. Berkshire Hathaway Specialty Insurance Co is seeking unspecified damages in its federal lawsuit filed on Wednesday in Akron, Ohio, where Goodyear is based. Goodyear spokesman James Peate said the company does not discuss pending litigation. Berkshire said Goodyear claimed to have in 2008 exhausted a policy from another insurer for the asbestos claims, but waited until November 2015 to seek reimbursement from Berkshire for “several millions of dollars” under an “excess” policy. It also said Goodyear had never asked for help in defending against the claims prior to November 2015. About 62,000 claims are pending against Goodyear in states including Florida, Maryland, New York, Pennsylvania and Texas over alleged exposure to asbestos-containing products as floor tiles, furnace hoses, gaskets and heat shields, Berkshire said. Many companies stopped using asbestos by the mid-1970s after it was linked to cancer and other diseases. The effects of exposure to the substance can take decades to surface. Goodyear’s excess policy, issued by Berkshire predecessor Stonewall Insurance, covers the period from July 1, 1976 to July 1, 1977, Berkshire said.
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Buy Now Kristen Zeis/The Virginian-Pilot via AP A group of friends from Chesapeake, Va., work to help clear fallen trees on Elbow Road in Virginia Beach, Va., following a suspected tornado that hit the area on Friday, March 31, 2017. The National Weather Service will not be able to confirm whether a tornado – or tornadoes – hit Hampton Roads until Saturday. (Kristen Zeis/The Virginian-Pilot via AP) VIRGINIA BEACH Virginia Beach authorities say local jail inmates are helping with cleanup efforts after strong storms struck the Tidewater area. The Virginia Beach Sheriffs Office said Saturday that it is coordinating with city officials to dispatch inmate work crews to assist with cleanup from Friday nights weather. Authorities say a church in Chesapeake was nearly destroyed and dozens of homes were damaged. The National Weather Service confirmed that a tornado touched down in Chesapeake and Virginia Beach. Meteorologist Mike Rusnak could not say whether there had been more than one twister. It may have touched down and lifted back up and touched down again, Rusnak said. There were no reports of injuries or deaths. Its a miracle, Art Kohn, a spokesman with the Virginia Beach Fire Department, said Saturday while surveying the Rock Creek neighborhood.
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