Media Blame Climate Change for Soaring Insurance Rates, but Data Doesn’t Support Narrative

A tornado touchdown in a neighborhood

Homeowners across the U.S. are seeing skyrocketing insurance rates, increased deductibles, excluded protections, and canceled policies.

Insurers say that they’re having to adjust to changing conditions to remain profitable. Among the problems they blame is inflation, rising construction costs, and costs associated with regulatory compliance. But many insurers are also blaming climate change for driving extreme weather events and increasing losses, and much of the media coverage is zooming in on this narrative.

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Commentary: Jobs Report Shows the Specter of Stagflation Has Returned

Meeting

The specter of stagflation has returned. The monthly jobs report released Friday showed only 175,000 jobs were created last month, well below the recent average and expectations.

More than half of new jobs were created in the unproductive government and quasi-government healthcare and social services sectors that don’t generate growth. Average wages grew at a slower rate than inflation, meaning Americans’ real wages and living standards are declining.

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