Florida's property insurance market since early 2023 has seen a total of new insurers and new subsidiaries of existing insurers that surpasses the tally of carrier insolvencies during the prior three years. APCIA's Adam Shores said the shift "is a surefire sign that [Florida's] legislative reforms to address legal system abuse are working," with rates stabilizing amid rising competition. "Florida is doing something right, and other states are taking notice," Shores said.

The latest version of a measure to tax the legal payouts that go to the litigation financing sector would impose a tax of 31.8%, down from the originally proposed 40.8%, as part of the tax and spending megabill moving forward in the Senate. The proposal retains provisions that would eliminate safeguards for tax-exempt organizations and prohibit litigation financiers from using losses to offset gains.

A $31 billion turnaround in the personal auto segment helped the US property casualty insurance industry rebound in 2024, with a $22 billion net underwriting gain after three straight years of losses, A.M. Best says in a report. The sector also surpassed $1 trillion in direct premiums written for the first time, and the commercial property segment achieved an $8.1 billion gain, after a $1.9 billion loss the prior year, the report says.

President Donald Trump said he likely won't extend the July 9 deadline for countries to finalize trade deals with the US and avoid increased tariffs, despite having the flexibility to do so. His remarks contrast with Treasury Secretary Scott Bessent's assessment that some agreements might not be ready by July 9 and that the Trump administration "could have trade wrapped up by Labor Day."

The National Atmospheric and Oceanic Administration said it has made permanent service changes ending the provision of data from the Special Sensor Microwave Imager Sounder, which consists of key satellites that have supported hurricane forecasting for decades. "This is an incredibly big hit for hurricane forecasts, and for the tens of millions of Americans who live in hurricane-prone areas," with the "nightmare scenario" being "going to bed with a tropical storm and waking up to a hurricane," said hurricane specialist Michael Lowry.

Severe thunderstorms are forecast to pose threats of damaging wind, flash flooding and hail to the central and Eastern US early this week. By Tuesday, the threat of severe weather could stretch from North Carolina into parts of New England, with the worst storms potentially occurring in areas ranging from northeastern Virginia and southeastern Pennsylvania, forecasters say.

Beazley says in a report that 31% of US executives said cyberrisk is the top threat they face, compared with 22% last year. Among the executives, 82% said they are looking to work with third-party suppliers to bolster cybersecurity, while 81% said they feel confident in their cybersecurity preparedness, which might be a sign of "a false sense of security," according to Beazley.