Berkshire Unit Off the Hook for Yacht Broker Price-Fixing Claims

A Berkshire Hathaway Inc. unit isn’t required to provide insurance coverage for an alleged price-fixing scheme involving a yacht broker association, a federal judge ruled.

In an order docketed Monday, Judge Darrin P. Gayles in the US District Court for the Southern District of Florida adopted a magistrate judge’s report and recommendation that coverage for the underlying suit was precluded by a “standard setting” exclusion in the directors and officers policy issued by Berkshire’s US Liability Insurance Co.

Gayles granted the insurer’s summary judgment bid and rebuffed the International Yacht Brokers Association’s request to toss the case.

The underlying proposed ...