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

Kelowna RCMP search for missing senior

Cathy Wilson has dementia and was seen leaving her care facility in Rutland

Kelowna community bike ride raises $120,000 for charity

Money from the Payton & Dillon Budd Memorial Ride went to the Canadian Mental Health Association

More road closures planned due to construction in Kelowna

Hart Road and Grantham Road in Kelowna will be closed beginning Thursday

Okanagan College culinary students experience local Indigenous flavours

Traditional Okanagan-Syilx styles were taught by Westbank First Nation Elders

Multi-Generational Activity Centre is officially underway in Lake Country

Federal government provides an extra $585k to support the project

VIDEO: Driver doing laps in busy Vancouver intersections nets charges

Toyota Camry spotted doing laps in intersection, driving towards pedestrians

Every situation is different, jurors hear at coroners inquest into Oak Bay teen’s overdose death

Pediatrician says involuntary treatment necessary following overdose, opioid use

RCMP across Canada to soon unionize, according to B.C. mayor

A spokeswoman for RCMP headquarters in Ottawa says it’s not yet a done deal

Penticton baby suffers injuries from fall

Emergency crews responded to a report of a fall at a residence at 4 p.m. on June 26

Missing and murdered Indigenous women remembered at Okanagan rally

Red Dress campaign honours the memory of missing and murdered Indigenous women across Canada

Explicit sex-ed guide for adults mistakenly given to Creston elementary students

The booklet clearly states online and inside that the guide contains sexually explicit information

Driver has $240K McLaren impounded minutes after buying it in West Vancouver

Officers clocked the car travelling at 160 km/h along Highway 1 in a 90 km/h zone

Public tip leads to seizure of drugs and weapons in North Okanagan

Concerned citizen spots male sleeping in car in residential area

Most Read