Lloyd’s of London, one of the world’s largest insurance markets, warned that volcanic eruptions could bury 15 major cities in lava and ash in the coming two centuries. As always though, there’s money to be made in catastrophe. The Philippines’ Taal Volcano belched into life on Sunday, spewing a cloud of ash half a kilometer into the sky and shutting down Manila’s international airport less than 80km (50 miles) away. As lava shot out of the volcano and earthquakes rumbled nearby, scientists warned of an “imminent” eruption. The Taal Volcano last erupted in 1977, but a previous eruption in 1911 killed more than 1,300 people. Residents of
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