Wildfires, Winter Storms, and the Evolving Risk Landscape

Changed climate requires a new weather strategy paradigm

The recent California wildfires have delivered a stark reminder of the growing financial impact of extreme weather events. I discussed the topic this morning (Jan 12th, 2025) on FOX Weather and FOX Business.

Paul Walsh, publisher of the G2 Weather Intelligence substack—a leading source of insights on the impact of weather on consumers and business—joins FOX Weather to share his concerns about the potential long-term economic impacts the Los Angeles area faces as firefighters continue to battle several raging wildfires across the county.

You can watch the full clip here: Los Angeles economic challenges to rebuild after worst wildfire in history

Early estimates suggest economic losses could surpass $50 billion, with insured losses potentially exceeding $20 billion. In my experience, first-guess numbers are often wildly exaggerated, but in this case, with the fires still burning, they may actually come out on the low side.

These initial SWAGs indicate a massive economic impact that will ex…