Eyjafjallajökull, Iceland 
Eruption: April 2010 
Estimated loss: 1.7 billion U.S. Dollar


At first, the eruption of Iceland's Eyjafjallajökull didn't seem such a big deal. But a mix of bad luck and poor risk management turned it into one of the costliest eruptions in history.


Ashes from the volcano quickly spread eastwards disrupting air traffic across Europe. The International Air Transport Association estimates that airlines alone lost more than 1.7 billion dollars. 


Mount Unzen, Kyushu, Japan 
Eruption: June 1991 
Estimated loss: 1.5 billion U.S. Dollar


After a first, violent outbreak in 1972, the volcano remained silent until earthquakes began in November 1989. The threat of eruption prompted authorities to evacuate about 12,000 residents. In June 1993 the volcano erupted again and claimed the lives of 43 scientists, journalists, and volcanologists.


Mount St. Helens, USA 
Eruption: May 1980 
Estimated loss: 860 million U.S. Dollar


A two-month series of earthquakes weakened the north slope of the Mount St. Helens in Washington State. Another earthquake on May 18, 1980 caused the entire north face to slide away.


A hot mix of lava and rock darted towards the Spirit Lake. The ash cloud rose 80,000 feet reaching eleven states. Hundreds of square miles were reduced to wasteland, 57 people and thousands of animals were killed.


Pinatubo, Philippines 
Eruption: June - September 1991 
Estimated loss: 860 million U.S. Dollar


The Pinatubo eruption in 1991 was the second largest volcanic eruption of the 20th century. The outbreak was triggered by an earthquake in July 1990.


Mount Pinatubo’s eruption plume reached 21 miles high in the atmosphere. After one year the cloud covered the entire planet and is believed to have triggered the 1993 drought in Africa's Sahel region. Global temperatures were reduced 0.5 degrees Celsius in the two following years.


Soufrière Hills, Montserrat 
 Eruption: since 1995 
 Estimated loss: 330 million U.S. Dollar


 After years of inactivity, the volcano erupted in 1995 and hasn't stopped ever since. The eruptions have rendered more than half of the island and the capital uninhabitable.


 About two thirds of the population left the island, when word got around that the entire island might explode. The most devastating eruption so far occurred in 2008, without any precursory events or hints.


Tavuvur and Vulcan, Papua New Guinea 
Eruption: September 1994 
Estimated loss: 300 million U.S. Dollar


The city of Rabaul is continuously threatened by volcanic activity because it is built on a flooded caldera close to the twin volcanoes Tavuvur and Vulcan.


In 1994, eruptions began after less than one day of seismic warnings. A good disaster response plan left the town ready for quick evacuation. The eruption destroyed the airport and covered most of the town with ash. Authorities decided to relocate the provincial capital to Kokopo. Nonetheless, Rabaul is slowly rebuilt in the danger zone.


Navado del Ruiz, Colombia 
Eruption: November 1985 
Estimated loss: 230 million U.S. Dollar


Home of various active volcanoes of the Andean Volcanic Belt, Columbia is frequently haunted by eruptions. The 2008 eruption of the Navado del Huila was the last event.


In November 1985, the Navado del Ruiz broke out and a rather small eruption caused a gigantic flow of lava, mud, and debris that buried the town of Armero and caused and estimated 23,000 deaths.



Eldfell, Iceland 
Eruption: January - February 1973 
Estimated loss: 200 million U.S. Dollar


The Eldfell eruption began without warning, just outside the town of Heimaey, in January 1973. It nearly led to the permanent evacuation of the entire Heimaey island. Volcanic ash covered most of the territory and a lava flow threatened to destroy the harbor, the island’s main income source. The lava flow was cooled by pumping sea water onto it. When the eruption ended, the island had grown by about 10 percent.



Gamalama, Indonesia 
Eruption: September 1983


Estimated loss: 150 million U.S. Dollar
After the legendary eruption of the Krakatoa in 1883, Indonesia became a synonym for volcanic activity. The outbreak was equivalent to 200 megatons of TNT and was heard as far away as Perth in Western Australia.


However, in 1983, another major eruption occurred at Mount Gamalama. The volcano caused a mile-high eruption column whose ash nearly destroyed an airport. Over 5000 people had to be evacuated.



Source : Allianz SE

The Ten Worst Volcanic Eruptions