By Roberto Ceniceros A year after the near-failure of American International Group Inc., risk managers say they have adjusted their insurance programs and increased their scrutiny of insurers’ financial position. In fact, they are looking beyond the insurer to scrutinize its parent company. Many say AIG’s fall was a wake-up call, forcing them to diversify their insurance programs by moving... 

American International Group, one of the largest insurance companies in the world, has been struggling to stay afloat this week. Moody’s Investors Service and Standard & Poor’s lowered their ratings on AIG; these downgrades, in turn, trigger clauses in AIG’s contracts with its trading partners that could require the company to raise billions for collateral or penalty payments. It...