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

Woman arrested after truck stolen in Mahood Falls

A police report from the 100 Mile House RCMP

Highway 97 closed north of Clinton

The highway has been closed due to downed hydro lines

Did you attend 108 Mile Ranch’s 50th birthday celebrations?

Did you attend the 108 Mile Ranch's 50th birthday celebrations this weekend?… Continue reading

From the archives of the 100 Mile Free Press

28 Years Ago (1991): A proposal for a $600,000 seniors housing project… Continue reading

A hidden gem in our own backyard

As someone who is new to town, I am always looking for… Continue reading

VIDEO: Tributes flow on 10th anniversary of Michael Jackson’s death

Jackson received a fatal dose of the anesthetic propofol on June 25, 2009. He died at age 50

VIDEO: Killer whale steals fisherman’s catch off North Coast

Fishing duel results in eager orca snagging salmon in Prince Rupert

40 cats surrendered in apparent hoarding at B.C. home

Officers found the cats living among piles of garbage and feces, suffering from fleas

Vancouver Aquarium drops cetacean ban lawsuit in new lease agreement

Ocean Wise CEO Lasse Gustavsson called the updated lease an exciting new chapter for the aquarium

Thieves steal two $40K chairs featuring gold serpents from B.C. furniture store

Chairs believed to be the only two of its kind in Canada, police said

Rising gas prices force B.C. residents to rethink summer road trips: poll

63 per cent of respondents reported gas prices are impacting their day-to-day finances

PHOTO: Moose cow and calf relax in Williams Lake flower garden

The homeowners got a surprise when they checked their most recent surveillance footage

Two in hospital after plane crashes in Okanagan Lake

RCMP say wheels left down caused landing plane to overturn on lake

The world’s Indigenous speakers gather in B.C.’s capital to revitalize languages

Organizers estimate about 1,000 delegates from 20 countries will be at the conference

Most Read