The insurance industry could soon be impacted by mass deportations and the uncertainty surrounding potential tariffs, both of which may drive up labor and material costs. Dr. Robert Hartwig, a professor at the University of South Carolina, explains that because insurance is a “pass-through” business, increased expenses may be reflected in homeowners’ premiums and coverage. “Whether by force or through fear, fewer individuals are going to be engaging in this type of work,” he says. “On the margin, that’s going to put some pressure on the price of labor for construction.” Although the outcome is still uncertain, other industry experts note that insurers may respond in a range of ways depending on how economic conditions evolve. To hear more, click here.