Poll results from May
1. Besides the 1980 eruption of Mount St. Helens, which volcanic eruption over the last 50 years incurred the highest economic losses?
• 1982, Mount Galunggung, Indonesia
• 1994, Rabaul/Tavavur, Papua New Guinea
• 1982, El Chichon, Mexico
• 1985, Nevado Del Ruiz, Colombia — 10% of respondents answered correctly.
• 1983, Mount Gamalama, Indonesia
Source: "Insurance risks from volcanic eruptions in Europe," Willis Research Network. Willis states that when converted to 2007 U.S. dollars, Mount Galunggung sustained $306 million, Rabaul/Tavavur sustained $531 million, El Chichon sustained $224 million, Nevado Del Ruiz sustained $1.719 billion and Mount Gamalama sustained $275 million.
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2. How many of your carriers use some form of "real time" technology?
• None — 0%
• A few — 20%
• More than half — 40%
• Most — 40%
• All — 0%
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3. What's the best insurance solution for coastal property coverage?
• Standard private market — 42.9%
• Excess & surplus lines market — 47.6%
• Program market — 9.5%
• Some type of federal program — 0%
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