A favorite metric of climate scum like Joe Romm, is that “billion dollar disasters” are on the rise.
The are 2.5 times as many houses along the Gulf Coast as there were in 1960, and the average price of homes has increased by almost 10X. These two factors alone cause Gulf Coast weather disasters to be 2500% more expensive than they were in 1960.
A friend of mine used to get contracts to replace ‘flood damaged’ electronics, and discovered that insurance companies define anything with water spots a ‘total loss’. Many of the machines he replaced were in perfect working order, and did not exist thirty years ago.
Household/Office content value has also skyrocketed.
Well, once we get us some good ol’ hyper-infaltion going, a hole in your sock will be a billion dollar disaster.
Joe is ignorant of science and the application of normalization in dealing with historic data concerning disaster loss. The experts in the field have calculated that it will require anothe 112 years before any human fingerprint might become evident in disaster loss data if ever.
“The are 2.5 times as many houses along the Gulf Coast as there were in 1960” and presumably as many new insurance contracts on homes built to a higher standard than back in 1960. Lots of profit for insurance firms.
Swiss spend $100 million to build an airplane that can’t fly if it’s cloudy.
‘Solar plane’s first transcontinental flight delayed by clouds’
This is definitely a “fly by night” operation. ROTF!!!!
Big change in the handling of insurance claims. Now you lose a few shingles, you get a new roof because replacement shingles won’t match the old. Same with siding. Every half baked storm is an excuse to make a fraudulent insurance claim to completely replace your old roofing and siding.