Corporate Risk

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.

Surge in street crime prompts higher security, but media personnel, sponsors and employer groups need to take caution

Berkshire Hathaway Inc. reported a 3.8% decline in first-quarter profit, as underwriting results declined at insurance businesses and on reduced earnings from Chairman Warren Buffetts derivatives wagers.