Volcanism: a risk to be closely monitored by insurers and reinsurers

volcano36 years after the Armero disaster, the Nevado del Ruiz volcano (Colombia) is still roaring. In November 1985, the volcano had devastated the town of Armero, located 4 kilometers from the crater causing the death of nearly 25 000 people.

In Iceland, the eruption of Eyjafjallajökull in 2010, caused the disruption of air traffic. The cloud of gas and ash led to the cancellation of 102 000 flights. The cost for airlines had reached 1.7 billion USD.

On 23 October 2021, Mount Etna (Italy) propelled smoke and ash that formed an enormous column nearly 9 000 meters high. No human casualties were reported. However, a shower of black stones caused a lot of inconvenience to the inhabitants of nearby towns.

The most significant volcanic eruptions of the last decade:

IcelandApril 2010
- Lava jets propelled up to 200 m high.
- Formation of a cloud of gas and ash that disrupted air traffic.
Bali (Indonesia)November 2017
- 135 000 people evacuated.
- Release of a plume of smoke and ashes leading to a disruption in air traffic that lasted 3 days.
HawaiiMay 2018
- The lava flows destroyed more than 700 buildings.
- The ashes are propelled up to 9 000 m high
Anak Krakatau
IndonesiaDecember 2018
- The volcano erupts, causing a tsunami.
- More than 400 people are killed and more than 20 000 are displaced.
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