Tag: tariffs

Tariffs and Insurance: How New Trade Policies Are Driving Industry-Wide Adjustments

A conceptual illustration of trade tariffs, depicting shipping containers covered in flags from U.S, European Union, Canada, China, and Mexico. The image conveys themes of supply chain disruptions, trade policies, and global commerce challenges. 3D render

The U.S. insurance industry, already tasked with forecasting risk amid a dynamic global landscape, is now facing new challenges following the announcement of sweeping tariffs by President Donald Trump on April 3, 2025.

Tariffs Threaten to Drive Up Insurance Costs and Global Economic Tensions, Warns APCIA

Economic tariffs and government taxation or punative tariff trade policy or duties imposed on imports and exports by a government on imported or exported goods as Protectionism to raise national revenue

As federal policymakers weigh new tariffs on imported goods, the American Property Casualty Insurance Association (APCIA) is sounding the alarm about the ripple effects across the insurance industry and global economic order.

How Tariffs Could Lead to Higher Car Insurance Costs

rush-hour traffic in downtown beijing at daytime,china.

One less obvious but significant driver of rising insurance costs is the potential impact of tariffs on car parts and vehicles. If tariffs on imported auto components increase, insurers may face higher claim costs, ultimately affecting policyholders.