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Michael Segal released from prison 4 months early

Published May 30, 2012 CST

CHICAGO—Michael Segal, the former Near North National Group Inc. owner convicted of fraud in 2004, was freed from prison on Tuesday, four months ahead of his scheduled release date.

Dewey files for Chapter 11 in record law firm collapse

Published May 29, 2012 CST

NEW YORK (Reuters)—The crippled law firm Dewey & Leboeuf L.L.P. filed for Chapter 11 bankruptcy protection Monday night and will seek approval to liquidate its business after failing to find a merger partner, marking the biggest collapse of a law firm in U.S. history.

Calif. workers comp advisory pure premium rate hike of 8.25% is approved

Published May 30, 2012 CST

SACRAMENTO—California Insurance Commissioner Dave Jones has approved a California workers compensation advisory pure premium rate hike amounting to 8.25% for new policies and those renewing on or after July 1, 2012.

OFF BEAT: Certain dog breeds cause insurers to tuck their tails between their legs

Published May 30, 2012 CST

With the number of dog bite claims and their costs increasing, lists of the most-dangerous canines are finding their way into media stories.

Small companies may face greater scrutiny when buying D&O coverage under JOBS Act: Report

Published May 29, 2012 CST

Small companies utilizing provisions of the recently passed JOBS Act may face greater scrutiny when purchasing directors and officers liability insurance, according to a new report from Marsh Inc., an unit of New York-based Marsh & McLennan Cos.

Rep. Frank offers bill to bar insurance on clawbacks

Published May 30, 2012 CST

WASHINGTON (Reuters)—Executives at financial firms would no longer be able to buy insurance to protect themselves against compensation clawbacks or civil penalties, under legislation introduced by U.S. Representative Barney Frank.

CSU increases Atlantic hurricane prediction for 2012

Published June 01, 2012 CST

FORT COLLINS, Colo.—The hurricane forecasting team at Colorado State University has increased the number of hurricanes it expects to form in the Atlantic basin this hurricane season to five from the four predicted in April.

FM Global announces management changes

Published May 30, 2012 CST

JOHNSTON, R.I.—Factory Mutual Insurance Co., which does business as FM Global, has announced several changes to its management team, effective June 1.

Property/casualty insurers upgrading policy administration systems: Analysis

Published May 30, 2012 CST

Economic and market conditions are encouraging property/casualty insurers to replace or upgrade policy administration systems, according to a report from New York-based research and advisory services firm Novarica released last week.

Prudential buying U.S. business from Swiss Re

Published May 31, 2012 CST

HONG KONG (Reuters)—Britain's No.1 insurer Prudential P.L.C. on Thursday said it will buy SRLC America Holding Corp. from Swiss Re A.G. for 398 million pounds in cash.

NFIP extension bill signed into law

Published May 31, 2012 CST

WASHINGTON—President Barack Obama on Thursday signed into law legislation that extends the National Flood Insurance Program through July 30.

Aon promotes Steve McGill to group president

Published May 27, 2012 CST

LONDON—Aon P.L.C.'s promotion of Steve McGill to group president should result in greater coordination of resources across the brokerage's three business units, analysts said after the announcement last week.

Property/casualty insurance rates up 3% in April: MarketScout

Published May 04, 2012 CST

The composite rate for commercial property/casualty and professional lines coverage increased an average of 3% in April 2012 compared with the same month a year ago, MarketScout said Friday.