Mark Cuban is back to calling out the insurance industry, and this time his message was aimed squarely at investors. He argued that backing major insurance companies means supporting a system that shifts pressure onto people with the least ability to absorb it.
Posting on X on February 1, 2026, Cuban accused major insurers of pushing risk downhill. In his view, the burden keeps landing on independent doctors, pharmacists, and patients. These are the people with the least financial power and the fewest options to push back.
Mark Cuban’s argument was about balance. Big insurance companies can absorb losses. Smaller players can’t. When costs and liability get passed along, the fallout hits those already stretched thin. And that, he argues, is exactly why the system deserves more scrutiny.
Mark Cuban Says Big Insurance is Broken and Berkshire is Not Immune
Shark Tank’s Mark Cuban didn’t stop at general criticism. He pointed directly at Warren Buffett’s Berkshire Hathaway and questioned its exposure to health insurance.
Cuban argued that investors have more influence than they think. If shareholders start moving their retirement accounts and personal savings away from insurance stocks, the ripple effect would be hard to ignore.
He suggested that real change won’t come from complaints alone. It comes when capital moves. If investors walk away, the industry would be forced to respond.
Why Mark Cuban is Targeting Berkshire Hathaway’s Insurance Exposure
Mark Cuban didn’t hold back, even while acknowledging his respect for Warren Buffett. He wrote that despite Buffett’s legacy and retirement, Berkshire Hathaway should take a serious look at its health insurance holdings.
Cuban suggested that change might not come from regulators stepping in. If the Department of Justice stays on the sidelines, he believes the market itself could apply pressure. Investors pulling out could force insurance companies to rethink their positions.
Why Insurance Companies Are Under Growing Scrutiny
Mark Cuban made his comments as the insurance sector is already facing pressure. Scrutiny has been building, and recent policy moves have only added to it.
Earlier in 2026, the Trump administration floated Medicare payment levels that fell short of what insurers were expecting. Markets reacted quickly. Stocks tied to major players like UnitedHealth Group, Humana, and CVS Health slid soon after the proposal became public.
Berkshire Hathaway’s Insurance Strategy Explained
Warren Buffett has consistently spoken positively about the insurance business and its role in building Berkshire Hathaway. He has often described insurance as the foundation that made the company’s growth possible.
Over the decades, Berkshire’s insurance float expanded dramatically, starting at just $39 million in 1970 and reaching $91.6 billion by 2016. That pool of capital gave Buffett the flexibility to fund major acquisitions and long-term investments, shaping the conglomerate into what it is today.
Berkshire Hathaway has continued to place big wagers within the insurance space. Among them is a sizable holding in Chubb, which has delivered solid gains.
Over the past year (2025), Chubb’s stock rose about 13 percent. The performance helps explain why Berkshire has kept insurance at the center of its investment strategy.
Mark Cuban’s Long-Running Criticism of Big Insurance
Mark Cuban has been making this argument for years. His frustration with large insurance companies and their business models didn’t start this week.
He’s previously said he backs reform around pharmacy benefit managers, but has little faith in how the system works now.
Cuban has pointed out that the biggest PBMs are owned by major insurers, which leaves them insulated from pressure. In his view, they profit by charging everyone involved, from patients to providers, while having no real reason to rein in costs or fix inefficiencies.
