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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Seven arrested at blocked rail line in northern B.C., police say

But a Gitxsan hereditary chief says 14 were arrested, as fight over natural gas pipeline continues

Wet’suwet’en hereditary chiefs call for end of police patrols

Temporary closure of field office not enough to meet demands

Blockades remain in place as Wet’suwet’en hereditary chiefs returning to B.C.

Hereditary Chief Woos said they are ready to engage in nation-to-nation talks with the B.C.

CGL must revise impact assessment on Unist’ot’en Healing Center

Environmental Assessment Office not satisfied with report’s shortcomings

Trudeau: Time for blockades to end and Indigenous leaders to work with government

Prime minister says situation in Coastal GasLink pipeline dispute is ‘unacceptable and untenable’

VIDEO: Feds warned agricultural sector near ‘tipping point’ due to blockades

Canadian Federation of Agriculture points to lack of propane and feed due to Coastal GasLink dispute

B.C. terminates contract with hospice society refusing assisted death

Delta Hospice Society loses hospital service fund of $1.5 million

Hospital parking fees needed, but changes to payment system possible, health minister says

B.C. health minister Adrian Dix says hospital parking doesn’t need to be so stressful

Protecting privacy key to stopping spread of COVID-19, B.C. health officials say

The number of coronavirus cases in B.C. remains at seven

IHOP to host seventh annual National Pancake Day

IHOP will be offering free short-stack pancakes in support of BC Children’s Hospital on Tuesday

Do you talk to your spouse about money? 42% of Canadians don’t, poll suggests

Politics, sex, religion top list of taboo subjects for Canadians

Okanagan animal sanctuary seeks to fit frostbitten baby goat with prosthetic leg

Fundraiser started to help Zuri, newest resident of Twin Hearts Animal Sanctuary

Illegal fishing, snowmobiling caught in Caribou-protected areas of northern B.C.

Closures are to support the recovery of caribou herds: BC Conservation Officer Service

Most Read