June 25th, 2018

Volcanic Eruptions: A Complex and Largely Overlooked Risk

Posted at 1:00 AM ET

Delioma Oramas-Dorta, Catastrophe Risk Analyst

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Volcanic eruptions are complex phenomena that may affect populations and economies in ways we may not be familiar with. Large volcanic eruptions can spew ash spreading hundreds or even thousands of kilometers; and deposited ash may damage buildings at different levels, from catastrophic structural damage in extreme cases of significant ash fall accumulation, to abrasion or corrosion of nonstructural elements such as roofs, gutters and cladding.

In the main volcano-exposed countries, volcano coverage is usually not included in standard insurance policies but can be purchased as part of earthquake policies or all-risk policies. In Japan and Indonesia, earthquake coverage is optional, but when purchased it includes coverage for volcanic eruptions.

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