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Buffett company buys workers' comp firms

July 19, 2006

Berkshire Hathaway said late Tuesday that it has agreed to acquire two California workers' compensation firms as the insurance- focused conglomerate run by billionaire Warren Buffett expands its bet on the once-troubled market.

American All-Risk Insurance Services (AARIS) and American Commercial Claim Administrators (ACCA), which provide underwriting, operational, and claims- management services for California workers' comp insurers through a network of agents, will become a part of Berkshire subsidiary Columbia Insurance Co.

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