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

Interior Health sees uptick in calls about measles after outbreak in Vancouver

IH has received an extra few hundred calls about measle immunization and status

‘His kids were No. 1’: Wife remembers man shot dead in Kamloops

Wife of Kamloops shooting victim describes him as loving, hardworking family man

West Kelowna pulls together for family’s pop-can tab collections

Thompson Chadsey collects aluminum pop-can tabs to repay his hospital

Summerland to host fourth annual Grand Sommelier Express

Wine event will be held on Kettle Valley Steam Railway’s historic train

Penticton woman captures footage of bobcat feasting on bird in backyard

‘Kim Ken Oszinski’ posted photos and videos of the bobcat from just a few feet away

5 Events to check out at local ski hills

Check out this new column from Okanagan events guru Christina Ferreira

Okanagan man cashes in $500,000 Daily Grand lotto ticket

Penticton resident Harald Naegel won using his regular five numbers

Okanagan biathlete bronzed at Winter Games

Ethan Algra helps Team BC earn medal in Red Deer

New report calls for regulated heroin sales to curb B.C.’s overdose problem

B.C. Centre on Substance Use points to organized crime and money-laundering as contributing factors

Millennial men least likely to have a family doctor: Statistics Canada

Report found more women have primary care physicians, compared with men

Okanagan man fined $600 for twenty-third illegal driving conviction

Judge says another offense could result in jail time

Snowplow accident leads to power surge, small claims decision

Tribunal rules Shuswap resident not entitled to additional compensation

70% of Canadians agree with mandatory vaccines for children: poll

The debate for pro and anti vaccinations has heated up after a measles outbreak in Vancouver

Most Read