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

PHOTOS: Sylvan Lake Curling clubs hosts Men’s Bonspiel

The second annual event was held Jan. 11-13.

Snowfall adds some delay to morning commute

The QE2 and area road conditions in central Alberta were partly snow covered

Sylvan Lake council approves concept design for Pogadl Park

The next step is a project plan for “Phase One” construction

Hard fought win for HJ Cody senior boys Lakers

Lakers took on Camrose Jan. 10 at home and waked away with a 76-65 win

Hope restored: Sylvan Lake resident receives kidney donation from younger sister

Sylvan Lake’s Lexie Libby undergo an operation for a new kidney, donated by her sister Emma.

Trudeau says politicians shouldn’t prey on Canadians’ fears

The Prime Minister was speaking at a townhall in Ontario

Environment Minister clarifies misconceptions in Bighorn proposal

Minister Shannon Phillips speaks to concerns around the Bighorn Country

‘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

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’

In limbo: Leftover embryos challenge clinics, couples

Some are outright abandoned by people who quit paying storage fees and other couples struggle with tough decisions

Netflix rejects request to remove Lac-Megantic images from ‘Bird Box’

At least two shows on Netflix’s Canadian platform briefly use actual footage of the 2013 tragedy

Three Ponoka men and one youth charged in assault case

Police obtained a search warrant and located drugs and sawed-off shot gun

Teen vaping is an epidemic: US government

E-cigarettes are now the top high-risk substance used by teenagers, outpacing cigarettes, alcohol, marijuana

Most Read