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

Langley-raised catcher to play on Team Canada at Pan Am Games qualifier tournament

Kellin Deglan is headed to Brazil at the end of the month to play ball with Team Canada

Trappers back to peak form

Langley Junior B Team aims for playoffs

WIN: Langley thespian stars in upcoming ‘psychological thriller’

Langley’s Andrew Wood plays the role of Lieutenant Walker in Night Watch.

Make-A-Wish BC grants Langley girl’s wish

Mae Ten Haaf battled a brain tumour much of her young life, and recently returned from Disney World.

Chamber looks to Cloverdale, Clayton for award nominations

The Clovies, Cloverdale’s annual business awards, return April 25

Giant rotating ice disk forms in Maine river

Ice disk that is roughly 100 yards wide has formed in the Presumpscot River

SUV wedged on top of car in B.C. mall parking lot has customers confused

The accident occurred Tuesday, no injuries were reported

Huawei founder thanks inmates, Canadian justice system for treating daughter well

Ren Zhengfei said he believes there will be a just conclusion to the case of his daughter, Meng Wanzhou

May government faces no-confidence vote after Brexit defeat

British Prime Minister Theresa May said she would stay put in her leadership role

Man, two children sent to hospital after Vancouver carbon monoxide leak

Nine people were evacuated from the home in south Vancouver

5 to start your day

Gabriel Klein fit to stand trial, Gillette ad stirs online uproar and more

Razor burn: Gillette ad stirs online uproar

A Gillette ad for men invoking the #MeToo movement is sparking intense online backlash

B.C. teacher reprimanded after telling kids about deaths, Pickton murders

Tracy Joseph Fairley resigned from Maple Ridge-Pitt Meadows district April 23, 2018

Feds poised to bolster RCMP accountability with external committee

Long-anticipated move is the latest attempt at rebuilding the force following years of sagging morale

Most Read