A recent Wall Street Journal article highlighted the fact that demand for catastrophic reinsurance products is outstripping supply. Meanwhile, hedge funds and private-equity firms are filling the gap by providing coverage in certain cases. But don’t forget the king of reinsurance, Warren Buffett. Indeed, Berkshire Hathaway is making a big bet on mega-cat reinsurance even as others flee. And here is yet another classic quote from Mr. Buffett on the subject: "If you like to watch football, you probably enjoy the game a little more if you have a bet on it. I like to watch the Weather Channel." Gotta love it!
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