Welcome to this week's recap. The news and top producer insights you need, without the snoozefest. Today: 5 briefs. 1 reg pod. 1 quicky pod. 1 poll. 0 boring. Let’s roll!

Scientists now put an 82% chance on El Niño developing by July and a 67% chance it's a strong or very strong event by year-end. The good news for your coastal clients: El Niño typically suppresses Atlantic hurricanes by cranking up wind shear, so forecasts predict a below-average season. The bad news: "below average" isn't "no risk." After all, it only takes one storm. Ian, Ida, and Idalia all said hello during "manageable" seasons. Meanwhile, El Niño also brings wilder wildfires, crop shocks, and record temps globally. Fewer hurricanes. More everything else.

You genuinely cannot make this up. Cameron Hamilton, former Navy SEAL, was named acting FEMA chief in January 2025. Four months later, he told Congress that eliminating FEMA was "not in the public's best interest." He was fired the next day. Polygraphed. Escorted out. Done. Except... not done. Trump just nominated Hamilton to permanently lead the very agency he was fired from a year ago making him FEMA's first confirmed permanent administrator of Trump's second term. The nomination is also the clearest signal yet that "abolish FEMA" talk is probably off the table for now. With hurricane season 18 days away and El Niño warming up in the Pacific, having a permanent, Senate-confirmed disaster chief is kind of a big deal.

Good news for your big boys: D&O premiums are staying friendly. A recent Baldwin Group/Nasdaq survey of 250+ public companies found 54% saw rates hold flat, 30% got cuts of 10–30%, and another 10% scored reductions north of 30%. Only 6% saw meaningful increases. The catch? Carriers are quietly getting nervous. Settlement costs are climbing, excess layers are getting scrutinized, and the free-fall in rates is slowing. Windows like this don't stay open forever.

Here's a story that should make every producer smile. The Third-Party Litigation Funding industry, the $20 billion machine that's been bankrolling nuclear verdicts and keeping social inflation alive and well, is quietly melting down. Funders are running out of cash, lawsuits are taking longer than expected, and investors are fleeing. Assets are trading at 10 cents on the dollar. Now hedge funds are circling like vultures, buying distressed lawsuit portfolios for pennies, and plot twist, insuring their bets. The money behind the madness is hopefully drying up. Don't pop the champagne yet, but maybe order the glasses.

The PBM game is changing. A new survey of 300 large employers found that more than 90% prefer a rebate-free pharmacy benefits model, saying it's easier to understand, easier to budget, and better for employees. For years, PBMs like Express Scripts and Optum Rx quietly profited by steering plan members toward pricier drugs with higher manufacturer rebates. A system so opaque most employers didn't know it was happening. Now both are pivoting to transparent, rebate-free models under regulatory pressure.

We’ve partnered with Element 22 to be Max Revenue’s preferred wholesale broker. If you've got accounts that need a creative P&C solution give them a shot. We’ve vetted them. They’re legit.

You can send your submissions straight to [email protected] Or call Brian at (843) 296-3376 and tell him Max Revenue sent you.

In this episode, Micah Salas shares how he dug himself out of the worst slump of his career. From tough loss after lough loss to finally getting skins on the wall.

In this video, Micah breaks down why the one-page proposal beats a thick binder or long PowerPoint every time, and exactly what to put on it.

Today's email was written by Trey Shields

Edited by Matt Foley | Illustrated by Chip Endales

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