Berkshire Hathaway Inc. announced Friday the launch of Berkshire Hathaway Specialty Insurance, a commercial property/casualty group that will focus mainly on excess and surplus lines coverage, Insurance Journal reportedWith the new insurance group, the Omaha-based conglomerate "is moving into commercial insurance in a substantial way, and we are here to stay," Chairman and CEO Warren Buffett said in a statement. In April, Buffett hired Peter Eastwood, former president and CEO of American International Group Inc.'s property/casualty unit, to lead the group. Though Berkshire Hathaway has operated units that provide automobile coverage and reinsurance, it hasn't played a large role in providing business policies.