PacifiCorp, the electric utility subsidiary of Berkshire Hathaway (BRK-A), filed a motion with the Oregon Court of Appeals this Wednesday requesting reversal of lower court decisions that could saddle the company with up to $52 billion in potential liabilities for wildfires in 2020 and 2021. In its brief, PacifiCorp argued that recent rulings expand the definition of ‘unreasonably dangerous conditions’ beyond established precedent, exposing the utility’s 1.9 million customers in Oregon, Washington and California to disproportionate financial risk. The company noted that if liability is upheld, insurance coverage and reserve funds currently valued at $3.4 billion would be insufficient to cover claims, jeopardizing planned infrastructure investments of $1.2 billion in grid hardening over the next two years. PacifiCorp has also requested that the appellate court clarify standards for equipment failure and force majeure defenses in future wildfire litigation.

Berkshire Hathaway Specialty Insurance (BHSI), an arm of BRK-A, has promoted Chris Polechronis to Head of Financial Institutions, U.S., effective immediately. With nearly 25 years of industry experience and a decade at BHSI, Polechronis will oversee nationwide underwriting of the Executive First and Professional First suites—coverages that generated $725 million in gross written premiums last year. Under his previous role as Co-Head of Financial Institutions, the portfolio grew at a compound annual rate of 8.5%, contributing to BHSI’s overall 12% growth in commercial lines in 2023. BHSI underwrites on paper rated A++ by AM Best and AA+ by Standard & Poor’s and operates from 50 offices across six continents, supporting BRK-A’s global insurance strategy.