PwC highlights pressure on motor, home and specialty insurance from Trump’s tariffs
PwC has warned of higher claims costs, particularly in motor and home, leading to pressure on premium rates due to the US placing new tariffs on its global trading partners.
The experts also flagged the impact on specialist products that will likely drive-up insurance costs (see box below).
President Trump has imposed a baseline 10% tariff on all imports into the US to come into effect on 5 April with higher rates on many countries as of 9 April.
RelatedUK car insurance premiums see biggest annual fall in more than 10 yearsFor the fourth quarter in a row comprehensive car insurance premiums have dropped in price, according to the latest Confused and WTW research.
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