I have lots of fascinating data to share today, hence the second Five Figures of December. Before the jump, here is an excerpt from my New York Post op-ed from earlier this week, which built upon the first installment of a new series from THB, on insurance and climate:
The headlines are relentless, loudly proclaiming that climate-fueled extreme weather has caused an insurance crisis, reflected in dramatic rate increases for homeowners and businesses. Some warn that total economic collapse may soon follow.
But as is often the case when it comes to apocalyptic warnings related to climate change, real-world data don’t support the narrative.
In reality, the insurance industry, which provides coverage related to hurricanes, fires and other extreme events, is enjoying a streak of record profits.
Defenders of high premiums say it’s because it’s much more expensive to insure homes because of climate change.
But the recent spike in insurance prices is much more likely due, in significant part, to political requirements across the industry that financial companies consider “climate risk,” and the corresponding suite of risk modelers established to meet the newly created demand.
Look for Part 2 in the seris next week as well as the 2025 table of the five biggest scandals in climate researche
Now to the graphs . . .