Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact
Published . Updated .
Claims inflation and commercial clients’ finances remain exposed as insurers assess further US trade-policy risks
Directly affected
- No company is named in this report.
Indirectly affected
- XLF Financial Select Sector SPDR-3.2% 30d
Financial Select Sector SPDR: it holds insurers. Linked by “insurer” (insurers) in this story.
- XLI Industrial Select Sector SPDR-0.3% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- TIP iShares TIPS Bond ETF-0.5% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- CB Chubb+5.0% 30d
Chubb (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story.
- TRV The Travelers Companies+4.2% 30d
The Travelers Companies (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story.
- AIG American International Group+4.6% 30d
American International Group (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story.
- BRK-B Berkshire Hathaway
Berkshire Hathaway (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story.
- CAT Caterpillar-10.5% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLFNo price data for this ticker | — | — | — | — | — | — | — |
| XLINo price data for this ticker | — | — | — | — | — | — | — |
| TIPNo price data for this ticker | — | — | — | — | — | — | — |
| CBNo price data for this ticker | — | — | — | — | — | — | — |
| TRVNo price data for this ticker | — | — | — | — | — | — | — |
| AIGNo price data for this ticker | — | — | — | — | — | — | — |
| BRK-BNo price data for this ticker | — | — | — | — | — | — | — |
| CATNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact Insurance Business
Source: Insurance Business
Trades by members of Congress and officials in the stocks in this story
- Rep. Maria Elvira Salazar sold Chubb (CB), worth $1,001 - $15,000 on 24 Sep 2026. That is 35 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chubb (CB) (jointly held), worth $1,001 - $15,000 on 23 Sep 2026. That is 36 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Chubb (CB) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 55 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold American International Group (AIG), worth $15,001 - $50,000 on 28 Aug 2026. That is 62 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 31 days before publication. Filed 12 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Caterpillar (CAT), worth $50,001 - $100,000 on 31 Jul 2026. That is 90 days before publication. Filed 22 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLF)
Companies tied to this story
- XLF Select Sector Spdr Tr
For “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact,” Select Sector Spdr Tr (XLF) is linked, with no stored direction, medium confidence. Reason on file: Financial Select Sector SPDR: it holds insurers. Linked by “insurer” (insurers) in this story
- XLI Select Sector Spdr Tr
Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact.” Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- CB Chubb
For “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact,” Chubb (CB) is linked, with no stored direction, medium confidence. Reason on file: Chubb (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story
- TRV Travelers Companies
Travelers Companies (TRV) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact.” Reason on file: The Travelers Companies (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story
- AIG American International Group
In “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact,” American International Group (AIG) is linked, with no stored direction, medium confidence. Reason on file: American International Group (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story
- BRK-B Berkshire Hathaway
In “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact,” Berkshire Hathaway (BRK-B) is linked, with no stored direction, medium confidence. Reason on file: Berkshire Hathaway (fire, marine and casualty insurance): insurers pay claims and price policies around events like this. Linked by “insurer” (insurers) in this story
- CAT Caterpillar
For “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact,” Caterpillar (CAT) is linked, with no stored direction, medium confidence. Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- DE Deere
In “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact,” Deere (DE) is linked, with no stored direction, medium confidence. Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
Select Sector Spdr Tr (XLF)
The 29 Oct 2026 story “Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact” names Select Sector Spdr Tr (XLF) because of this story.
For Select Sector Spdr Tr (XLF), the reason on file says Financial Select Sector SPDR: it holds insurers. Linked by “insurer” (insurers) in this story
A second company, Select Sector Spdr Tr (XLI), is listed for a different reason: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
Dates in the story, and the Select Sector Spdr Tr (XLF) price range
CB traded between 329.66 and 364.85 across 20 sessions. The latest close on file is 355.62. XLF traded between 52.82 and 56.03 across 20 sessions. The latest close on file is 55.07. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 168.51.
How strong the case is around Select Sector Spdr Tr (XLF)
46 out of 100
“Midterm elections: Why a 'blue wave' may leave insurers’ tariff problems intact” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.