California wildfire costliest natural disaster in 2018

Northern California wildfire that killed dozens of people and burned down the town of Paradise

German insurance company Munich Re says the Northern California wildfire that killed dozens of people and burned down the town of Paradise was the world’s costliest single natural disaster in 2018.

The reinsurance giant said on Tuesday that the November fire caused overall losses of $16.5 billion. The company said some $12.5 billion in losses were insured.

The firestorm destroyed thousands of homes and other structures.

READ MORE: Climate change doubled risk of B.C.’s record-setting 2017 wildfires: study

Munich Re said losses from all natural disasters reached $160 billion last year, above the inflation-adjusted average of $140 billion for the last 30 years but below 2017’s hurricane-driven high of $350 billion.

Board member Torsten Jeworrek said increasing wildfires in California appear linked to climate change.

READ MORE: Storm packing snow and rain paralyzes parts of Lebanon

He was quoted saying that “action is urgently needed on building codes and land use to help prevent losses.

The Associated Press

Like us on Facebook and follow us on Twitter.

Just Posted

PHOTOS: Two downtown Aldergrove businesses, one community mission

Brick Alley Bistro partnered with Sovereign Vitality Natural Medicine for a community event Monday.

Backlog reduced at Langley adult day program

Wait list goes from months to weeks

Langley golfer Erin Lee wins major Pitt Meadows tournament

Maple Leaf Junior Golf Tour (MJT) gets underway at Swan-e-Set Bay Resort

VIDEO: Langley Trappers lose to Wolf Pack in PJHL final

North Vancouver makes it four in a row

VIDEO: Vancouver fall to Seattle in Game 2 of the playoffs

Thunderbirds topple the Giants 4-1 in Langley, evening the Western Conference series one game each

Edmonton judge rules Omar Khadr’s sentence has expired

Eight-year sentence imposed in 2010 would have ended last October had Khadr remained in custody

Father-son duo at B.C. Children’s Hospital helps new dads fight depression

The pair teamed up to introduce the only known research-based mindfulness workshop for new dads

Mexican restaurant in B.C. told to take down Mexican flag

General manager of Primo’s Mexican Grill in White Rock: ‘I’ve never heard of anything like this’

B.C. NDP moves to provide tax credits, tax cut for LNG Canada

Provincial sales tax break of $596 million repayable after construction

COLUMN: Smart phone too powerful a tool to yank from students’ hands

Rather than ban them from schools, let’s teach kids to harness their phone’s power and use it properly

B.C. river cleanup crew finds bag of discarded sex toys

Chilliwack volunteers stumble on unexpected find while removing 600 lbs of trash from riverway

Trudeau sells housing plan in visit to hot real estate market in B.C.

Trudeau said the budget contains measures to help first-time buyers

Norway opens probe into why cruise ship ventured into storm

The Viking Sky was headed for southern Norway when it had engine problems on Saturday afternoon

Crash threatens Vancouver shipyard’s schedule for new coast guard ships

The delivery of the vessel was already years overdue

Most Read