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

Masks and temperature checks now mandatory to enter Nanaimo’s Woodgrove Centre

Mall says it’s the first in B.C. to put the measures in place

Snuneymuxw, province sign land transfer agreement that includes parts of Mount Benson

First Nation sees economic development opportunities through forestry partnerships

Islands Trust Conservancy gets funding for protection of at-risk species

Conservancy manages habitat for more than 25 plant and animal species at risk

Nanaimo’s Western Edge Theatre returns to the stage in Port Theatre debut

Theatre group presents ‘2 Across,’ described as a ‘middle-aged romantic comedy’

Purebred breeders go for a walk in Nanaimo to show off their dogs

Purebred dog breeders sometimes get a bad rap, says event organizer

COVID-19: 4 more deaths, 366 new cases in B.C. since Friday

A total of 8,208 people in B.C. have tested positive for COVID-19 since January

Group wants Parliament, courts to hold social media to same standard as publishers

Daniel Bernhard made the comments shortly after Friends of Canadian Broadcasting released a research paper

B.C.’s Chase Claypool catches first NFL touchdown pass

Abbotsford grad establishes new record for longest scrimmage TD by a Canadian

B.C. has highest number of active COVID-19 cases per capita, federal data shows

B.C. currently has 1,803 active cases after weeks of COVID-19 spikes in the province

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

181 days gone: Family continues to look for man last seen in RCMP custody 6 months ago

Brandon Sakebow’s last known location was leaving Mission RCMP cell, police say; family has doubts

B.C. unveils new cannabis sales programs to help small, Indigenous growers

Government did not say how it will define small producers, but says nurseries will be included in the policy

Most Read