Jonathan Todd, Vice Chair, and J. Phillip Nester, Senior Managing Associate of our Transportation & Logistics Practice Group, co-authored an article in PropertyCasualty360 titled 'Insurance industry adjusts to tariffs and trade wars.'
The White House has kicked off the early stages of a global trade war. The near-term net effect is the growing reality that we are entering a higher cost operating environment for most industries. Volatility is always a challenge for commercial interests. Now, the more acute near-term challenge for the insurance sector is accommodating the dramatic linear trendline in costs of tangible goods throughout the supply chain and navigating uncertainty in the global economy created by shifting trade policies. These emerging scenarios are putting downward pressure on capital commitments and delaying critical underwriting decisions in multinational and trade-dependent lines of business.
Read the full article here: Insurance industry adjusts to tariffs and trade wars