Severe weather is the single leading cause of power outages in the U.S.

Right now, the funds from AIG are earning 'peanuts' for Berkshire, but there is potential for better returns

Berkshires namesake reinsurance group and General Re unit incurred costs tied to a cyclone in Australia. Pretax profit fell 34 percent at Geico, which sells auto coverage.

The London delegated authority market is ripe for disruption.