Here in the northwest, doing that could increase condensation within the colony, thereby negatively affecting the bees.

It's important to use techniques appropriate to the region. Folks should visit meeting of the nearby Beekeeping Association, cultivate a friend or two, and find a willing experienced mentor

I am not sure where you live but in my experience moisture and starvation will kill bees long before cold will. The first year I had bees I didn't know much (still don't) and left the screened bottom board open on my hive. That winter we had record cold temps. Long stretches with temps 10-15 below zero and wind chill temps around 40 below (f). My hive did fine, and that was a package brought from California. Now I am only catching local swarms and not getting bees brought it so they should over winter even better. Since then I have never done anything to wrap or insulate my hives, as long as they have enough food and ventilation they will be fine. Wrapping it too tight and you might get ventilation issues and do more damage then good.