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You are here: Home / News / PCI Reports Tariffs Could Increase Collision Repair Claim Costs $3.4 Billion

PCI Reports Tariffs Could Increase Collision Repair Claim Costs $3.4 Billion

November 20, 2018 By CollisionWeek Editor

The Property Casualty Insurers Association of America (PCI) made a presentation Saturday to the National Association of Insurance Commissioners’ (NAIC) Property and Casualty Insurance (C) Committee on the potential effect of tariffs on auto insurance costs and consumers.

Property Casualty Insurers Association of America logo “Tariffs on auto parts could have a significant adverse economic impact on consumers, automobile repair providers, business, and insurers,” said David Snyder, PCI vice president, policy, research, and international. “Based on data from the U.S. Bureau of Economic Analysis, PCI estimates that the proposed tariffs on auto parts could increase auto repair claims costs by $3.4 billion and ultimately be passed onto

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Filed Under: News Tagged With: Claim Severity, National Association of Insurance Commissioners, Property Casualty Insurers Association of America, Tariffs

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