Q3: What was a significant financial event for Berkshire Hathaway in 2001 related to insurance?

- A) Acquisition of a new insurance company

- B) Record low cost of float

- C) High underwriting losses at General Re

- D) Introduction of a new insurance product

**Correct Answer**: C) High underwriting losses at General Re

**Explanation**: In 2001, Berkshire Hathaway experienced high underwriting losses at General Re, which significantly impacted its financial performance.