2023 witnessed the worst underwriting loss for US home insurers at $15.2bn, primarily due to natural disasters, inflation, and population growth.

2023 marked the worst underwriting loss for US home insurers this century, at $15.2bn, due to natural disasters, inflation, and population growth in high-risk areas, according to AM Best. The losses are the worst since at least 2000 and more than double 2022's figures. Insurers respond by exiting disaster-hit markets or raising prices, causing an affordability crisis for many homeowners.