Berkshire Insurer Drops Lawsuit Over Tax Services Litigation

A Berkshire Hathaway Inc. insurance unit dropped its lawsuit against another carrier over coverage for a suit against a tax services firm alleging that its mishandling of filings resulted in over $1 million in tax liability.

The US District Court for the District of Vermont dismissed the suit Wednesday after Capitol Specialty Insurance Corp. filed a notice of voluntary dismissal without prejudice.

• Capitol Specialty sued CPA Insurance Inc. and its owner Genesis Legacy Solutions LLC in August 2024, arguing the underlying litigation wasn’t covered because the claim was first made outside the relevant policy period.
• The Berkshire unit covered CPA’s ...