2023 is the worst year for American home insurance companies in the 21st century
According to mehr reporter to According to Reuters, rating agency AM Best reported that a toxic combination of inflation, population growth, and natural disasters caused one of the country’s financial markets to come under severe pressure.
This institute announced that the events that occurred in 2023 made this year the worst year of the current century for the American housing insurance industry.
AM Best Institute has announced that this financial industry in the United States lost 15.2 billion dollars last year, which is double the amount of the previous year and the largest amount since 2000.
It is said that the increase in population in areas that are most vulnerable to natural disasters has been one of the reasons for the increase in the loss of housing insurance companies in America.
In such a way that the 6 states in the US with the most vulnerability to natural disasters, including California, Texas, and Washington, accounted for half of the total population increase in the country between 2010 and 2020. which has led to an increase in real estate insurance in these areas.
