Buffett and Ajit Jain explain why they're staying away from hot cybersecurity insurance industry

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Berkshire Hathaway Chairman and CEO Warren Buffett presides over the 2024 Berkshire Hathaway annual meeting. Buffett and Ajit Jain, director and vice chairman-insurance operations, respond to an audience about whether Berkshire will enter the cybersecurity business. Watch the full coverage of Berkshire Hathaway annual shareholders meeting on www.cnbc.com/.
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Опубликовано:

3 май 2024

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Комментарии : 29

@RB-eo4eq Месяц назад

Ajit’s no nonsense…. Basically said we don’t need the risk as the reward is too small….

@billal-dz Месяц назад

I do cybersecurity, the risk is high and can’t quantified, we can only do our best to reduce the cybersecurity risks and be prepared for threats and attacks. It’s so complicated and nothing is really secure. Public trading companies are required to to buy cyber insurance

@rainerbuechse6923 Месяц назад

This is an excellent demonstration of Berkshire‘s investment philosophy. It is based on simple, logical reasoning. Other companies would produce squaremiles of Excel spreadsheets to come to the same conclusion and then still act foolishly based on greed.

@a120068020 26 дней назад

Well reasoned. On the client side, I, having the pain of a £500k claim for a flooding of my company (tidal surge) and knowing the hoops I had to jump through to get the payout on something that was very easy to measure and record, imagine what the insurance companies would do when considering something complex like a cybersecurity incident. No thanks, I will do best practice and keep my money for more innovation. As a friend who used to be my insurance broker told me "always protect yourself as if you were uninsured", which I try to with property, public and employee liability but in the case of cyber insurance I am uninsured.

@Teamshmo 28 дней назад

Very interesting points. The fact their is no end to the payouts make it beyond high risk

@animalspirit77 4 дня назад

Interesting fact: Ajit Means invincible in Hindi

@yinghanfu9047 Месяц назад

So many financial catastrophes happened because people assumed independence and normal distribution.

@user-lt5no1xt1z Месяц назад

Is ajit jain from india?

@MK-fu3jp Месяц назад

yes

@MRT-co1sd Месяц назад

If he can talk and convince the Anglo Saxons then he is from India

@bsjddjk Месяц назад

yes

@3dandelion Месяц назад

yes & he’s a hell of a lot of smarter than the average person. A lot more vision too.

@LamarPassmore Месяц назад

Protection sells, as long as there is fear mongering then there's money to be made. You have Iran, North Korea, Russia and China out there so the sales for security/protection is big business. Now if the defense and intelligence community decides they won't proceed with their imperialism then get rid of your stakes in the industries but until then invest heavily.

@mazhjoketighralesh9612 18 дней назад

will work hard ��every day, forcing myself to respond to the resolution I want. I will succeed in life

@johnbanwell6391 29 дней назад

Ajit is the best. He looks a bit ill, though. Obviously he's lost a lot of weight.

@platoscavealum902 Месяц назад

🎰

@supernotnatural 29 дней назад

They have no idea how it works. They dont admit it and make excuses

@gideonk123 26 дней назад

If you think so, why not open an insurance company specializing in cyber security, and try to reap all the profit they supposedly left on the table?

@eddylauterback1312 Месяц назад

Ajit has lost weight. Look at shirt collar.

@alexanderbSpeaker Месяц назад

Basically the guy on the right said just something to be said

@gideonk123 26 дней назад

On the contrary, he spoke wise words. Listen again

@Chryeon Месяц назад

Basically Berkshire prefer conventional business , old industry and the hardware side of the tech business such as Apple...next CEO will pivot to Crypto?? Maybe😂