Berkshire Unit Sues to Avoid Covering Yacht Price-Fixing Suit

A Berkshire Hathaway Inc. unit asked a Florida federal court to declare it owes no insurance coverage to a yacht brokers group for a proposed class action alleging a price-fixing conspiracy.

An exclusion in the insurer’s liability policy for “standard setting” bars coverage for the underlying price-fixing claims against the International Yacht Brokers Association, US Liability Insurance Co. said in a complaint filed Tuesday in the US District Court for the Southern District of Florida.

The association was among several yacht organizations and brokerages that enforced an agreed-upon rule requiring sellers to pay higher commissions to buyers’ brokers, according to ...