Warren Buffett is not a ordinary person (this everybody knows but still ... reminding here), anything he does or says is keenly followed by the investment/financial world.
His subsidiary companies are into insurance/assurance business +investments.
He has put this info in the company's annual letter (it is not some interview) informing his investors of consequences/risk if such an event occurs. It is his responsibility to inform so that investors can decide to continue or liquidate investment/s from the company.
He is about 80+ yrs old, he could have said this a decade or 4 decades ago.
(And don't forget he follows data, but is not a TA)