Markel (MKL -1.17%), Berkshire Hathaway (BRK.B -0.68%), and RLI (RLI 1.34%) are all very different businesses, but all of these companies have five things in common. In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analyst David Hanson is joined by Stock Advisor analyst Brendan Mathews to discuss his checklist of things to look for before you buy shares of a P&C insurer. This five key areas are:

  • Management
  • Underwriting
  • Reserves
  • Investments
  • Valuation

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Warren Buffett has made billions through his investing and he wants you to be able to invest like him. Through the years, Buffett has offered up investing tips to shareholders of Berkshire Hathaway. Now you can tap into the best of Warren Buffett's wisdom in a new special report from The Motley Fool. Click here now for a free copy of this invaluable report.