Chubb Ltd(NYSE:CB) shares are trading lower by 5% to $275.89 going into the close of Monday's session. Shares of insurance companies are trading lower whileFloridiansexperience evacuation orders as Category 5Hurricane Miltonapproaches the state. The region is still recovering from damage due toHurricane Helene.

What Happened:Shares of Chubb, one of the world's largest property and casualty insurers, fell today as Hurricane Milton intensified and headed toward Florida'sGulf Coast. This comes less than two weeks after Hurricane Helene made landfall in the state, raising concerns over back-to-back financial pressures on insurers.