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California Wildfires, Hurricane Michael Top List of 2018’s Costliest Natural Disasters

Damage from natural disasters in 2018 amounted to $160 billion, according to German Insurance company Munich Re.

One third of the total global cost came from events in the United States, with California's Camp Fire at $16.5 billion and Hurricane Michael at $16 billion.

Hurricane Florence was 2018's third costliest disaster at $14 billion.

Japan was hard-hit with disasters as well in 2018, with at least seven typhoons that hit the country's islands. The costliest was Typhoon Jebi with overall losses of $12.5 billion, making it the fourth costliest worldwide.

Europe's costliest disaster was a drought and heat wave that cost $3.9 billion.

The report says that some 10,400 people lost their lives in 2018 as a result of natural catastrophes, which is below the yearly average of 53,000 deaths over the past 30 years.

The deadliest disaster of 2018 was the earthquake-triggered tsunami in the Indonesian city of Palu on Sept. 28, which killed 2,100 people.