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

Former Summerland lifeguard to be sentenced in January

Edward Casavant has pleaded guilty to child assault and pornography charges

Officers’ use of force in Penticton arrest that injured a male driver deemed necessary: Watchdog

IIO reviewed the incident after the driver alleged he was “slammed” to the ground by an officer

Busy lineup of live performances this winter at Penticton’s Cannery Brewing

Musicians like Ari Neufeld will be perfoming at the brewery throughout December and January

Emergency services organization says fatal overdoses could have been prevented

BCEHS says fatal overdoses often a result of not calling 9-1-1

Video: Magicians and Bubble Wonders highlight Penticton Shriners Variety Show

The annual fundraiser filled the Cleland Community Theatre on Sunday.

VIDEO: Harbour Air makes history with first electric aircraft test flight

Successful flight marks first of its kind in the world

Salmonella outbreak in Canada linked to rodents and snakes

92 cases of salmonella across six provinces, including B.C.

Meng Wanzhou wins right to more documents involving arrest at Vancouver airport

Defence lawyers allege the Huawei executive was unlawfully detained, searched and interrogated

RCMP traffic services moves to Falkland to slow speeders

Falkland detachment to serve as new HQ for RCMP’s North Okanagan Traffic Services

Truck with body inside found at bottom of lake near Kootenay ferry

Investigators believe no foul play is expected but are unsure how the vehicle ended up in the Arrow Lakes

Mr. Mikes to donate $22K to local charities

Restaurant looking for Deeds Well Done in 7th annual holiday campaign

Truck fire spreads to property in gated Vernon community

A loud bang rang out as flames spread to the grass

Most Read