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.
Moha
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
People Moves 7 – 11 April 2025
Keep up to date with the latest insurance industry personnel moves.
Allianz launches solar inspection service
Allianz Engineering has launched an inspection service for solar photovoltaic (PV) systems, aimed at businesses and industrial sites.
Brokers appetite for AI growing but split on automated vs in person underwriting
More than four out of five brokers said they would be interested or very interested in enhancing their operations with digital or automated processes, an increase of 15% since 2022, according to research by Aviva.
Axa committed to regional PL market – intermediary director Matt Field
Matt Field, director of intermediary at Axa retail, has told Insurance Age the insurer is “committed” to the regional intermediary market, and is focusing on sustainable growth.
Clear buys London-based broker
Clear Group has added London-based broker Moore Robinson to its UK retail arm.
