Florida's average homeowners insurance rate experienced an uptick of 1% this year, the lowest rate of increase among all states, APCIA's Robert Gordon said. Legislative efforts to curtail legal system abuse have helped slow the pace of increases in the Florida, although the underlying risks remain present in the market, Gordon said. "We've seen more people moving into coastal [areas], building bigger, more expensive buildings. We've seen the climate severity increase. So all of those are going to add to the insurance costs," he said.

Technological advancements such as geocoding and aerial imagery have helped property insurers more efficiently obtain insight about customers' risk exposures, Angela Orbann of Travelers said in a recent webinar. Most homes are captured in aerial imagery multiple times in a year, providing greater accuracy in underwriting and pricing, which frees insurers from depending mainly on customers and agents for input regarding key details of properties, Orbann said.

David Richardson resigned as acting head of the Federal Emergency Management Agency on Monday, after less than seven months in the role. Richardson's exit occurs as FEMA is facing concerns about its readiness to respond to crises. Karen Evans, FEMA's chief of staff, will take over as acting chief on Dec. 1.

Nonstandard auto insurers in the US saw $65.2 million in underwriting profit in the first six months of this year, up from $16.6 million in the first half of 2024, A.M. Best says in a report. The improvement is attributable to rate adequacy and the segment's use of technology in underwriting, claims and distribution, the report says.

Florida Insurance Commissioner Michael Yaworsky approved an average reduction of 6.9% in workers' compensation rates for the voluntary market next year. The cut is the state's ninth in a row for workers' comp rates. The move, based on a filing by the National Council on Compensation Insurance, reflects declining worker injury rates and workers' comp medical costs.

Cybercriminals increasingly exploit everyday online behaviors, according to the Verizon Business 2025 Data Breach Investigations Report. The report reveals that nearly 60% of breaches involve human error, with phishing and pretexting remaining prevalent. Tactics have evolved to include sophisticated web-based threats, manipulation of security measures and exploitation of multifactor authentication.

Federal Reserve Vice Chair Philip Jefferson noted downside risks to the labor market while emphasizing the need to "proceed slowly" as the central bank adjusts interest-rate policy. Separately, Federal Reserve Governor Christopher Waller cited concerns about the job market and indicated support for another rate cut.