Trump Tariffs Portend Higher Insurance Industry Costs

International Trade attorney Jonathan Epstein was quoted in a Law360 article about the implications of President Donald Trump's tariffs for the insurance industry. The article discussed how these tariffs could lead to higher costs and alter supply chains, significantly impacting sectors reliant on cross-border production. It also examined the potential for increased insurance claims as the cost of goods rises, which would affect homeowners and car insurance policies. Mr. Epstein commented on the potential need for businesses to reassess existing contracts in light of these measures.

"Look at your contracts, particularly long-term contracts, because obviously it changes the economics of a deal if all of a sudden you've got a 25 percent tariff on it," he said.

READ: Trump Tariffs Portend Higher Insurance Industry Costs (Subscription required)