Corporate Risk

A DOT report says minimum liability limits for motor carriers are insufficient to cover the costs of rare but catastrophic crashes. What would raising the minimum limits do to pricing and claims activity for commercial motor vehicle risks?

Tower Group International Ltd., the insurer that agreed to be bought by ACP Re Ltd. amid a stock plunge, hired Greenhill & Co. to provide advice on repaying debt if the takeover collapses.

A representative of the risk-retention industry as well as the Property Casualty Insurers Association of America today urged Congress to expand the Risk Retention Act to allow risk-retention groups to expand coverage to all commercial property and casualty lines except workers compensation.

AIG has shrunk by half through a series of asset sales that ended this week with the divestiture of a plane-leasing unit.

General Motors Co. is recalling an additional 2.7 million vehicles, pushing the automakers total number of cars and trucks called back for fixes in the U.S. this year to 11.1 million.

Bank-holding companies reported $6.22 billion in insurance-brokerage fee income for 2013, up slightly from $6.2 billion in 2012 as increases by most bank-holding companies were offset by declines at some of the larger ones.