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

Vernon growth looking solid

City comes off impressive year for buidling permits, both residential and commercial

Vernon roads close for Utility Rehabilitation Project

Road closures begin Monday, March 25 and will continue until Friday, June 28.

United Way executive director from Vernon heads into retirement

Linda Yule saying goodbye after 25 years with North Okanagan Columbia Shuswap organization

FMX World Tour comes to Vernon

Tickets go on sale Monday March 25 at 9 a.m.

Call out for Tim Hortons North Okanagan athletic award winners

Nominations sought for North Okanagan athlete, team and leadership awards

Second case of measles reported in the B.C. Interior

Case is connected to an earlier measles case in 100 Mile House

Cheetahs will not prosper in Creston: Permit rejected for two big cats

Earl Pfeifer owns two cheetahs, one of which escaped in December 2015

Rat problem arises in the Shuswap

Traps repeatedly selling out as Chase residents deal with unwelcome rodents

GM announces jobs, electric vehicle after Trump criticism

The company says it will spend $300 million at its plant in Orion Township

Explore the sunken treasures of the Shuswap

Divers explore historic boats and a Ford Model T that broke through lake ice while on a delivery

Trucker who caused Broncos crash likely to be deported: lawyer

The Crown has asked that Sidhu serve 10 years in prison

World Water Day: Special challenge issued to youth to be climate conscious

Friday, March 22, the Okanagan Basin Water Board is issuing a special challenge

China chemical plant blast kills 47, injures hundreds more

This is one of China’s worst industrial accidents in recent years

Most Read