UPDATED 9:05 AM PT — Wednesday, January 9, 2019
California’s ‘Camp Fire’ has topped the list as 2018’s costliest natural disaster. On Tuesday, the German reinsurance company Munich RE reported the blaze cost up to $16.5 billion in pure damages.
It beat out several other catastrophes, including Hurricane Michael which caused $16 billion in damages in the gulf coast and Hurricane Florence which cost $14 billion.
“We’re going to help them with funding — it’s going to take a lot of funding, I will tell you that,” stated President Trump while visiting Paradise, California.
The ‘Camp Fire’ burned through 154,000 acres for more than two weeks, destroying thousands of homes and claiming more than 80 lives.
Experts say these disastrous fires can continue in places like California due to the state’s dry weather and forest management.
On a global scale, last year’s natural disasters cost more than $160 billion in damages and only half were insured.