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

Surrey public event to explore transition from RCMP to city police force

Surrey Board of Trade continuing its ‘Hot Topic Dialogue Series’ with this issue, on Tuesday Jan. 29

Surrey’s new Age-Well hub receives $3.5M in government funding

Hub is meant to drive development of healthy tech solutions to support healthy aging: SFU

Dancer gives props to Surrey school program for allowing him to leap to world stage

North Surrey grad Bynh Ho in ‘Loop, Lull’ show at Vancouver’s PuSh festival

KidSport’s Nite of Champions to honour championship Coastal FC squad

Annual South Surrey event will feature Vancouver Canucks coach Travis Green as keynote speaker

LISTEN: First responders share struggles with adversity in new Delta Police podcast

Bend Don’t Break allows police, firefighters and paramedics an opportunity so tell their stories

B.C. opioid crisis to get same world-renowned treatment approach as HIV/AIDS

A program that focuses on treatment as prevention will roll out Jan. 17

‘Prince of Pot’ Marc Emery accused of sexual assault, harassment

Emery denied the allegations, but a Toronto woman says she is not the only one speaking out

Vancouver Island photographer makes National Geographic’s 2018 elite

Rare double honour for Marston from the 36 best Your Shots out of nearly 19,000 photos

Ex-Liberal candidate in Burnaby, B.C., says volunteer wrote controversial post

Karen Wang dropped out following online post singling out NDP Leader Jagmeet Singh’s ethnicity

Asteroids are smacking Earth twice as often as before

The team counted 29 craters that were no older than 290 million years

Canada’s arrest of Huawei exec an act of ‘backstabbing,’ Chinese ambassador says

China has called Canada’s arrest of Huawei chief financial officer Meng Wanzhou ‘politically motivated’

Manure company causing ‘toxic’ stink at Abbotsford school seeks permit

Property across from King Traditional Elementary cannot operate manure facility without permit

North Delta happening: week of Jan. 17

Events, courses and clubs listings for North Delta

Vancouver city council endorses free transit for youth

Mayor Kennedy Stewart will write a support letter to TransLink

Most Read