This insurance coverage will cover the Airline industry in the coming weeks. Though you would have thought that Europe does not have its own set of dangerous volcanoes, it actually has many! The one presently in news has erupted in Iceland which has caused huge losses to the aviation industry.This is because many countries had to shut down their airports like the UK, France, Germany, Ireland, Belgium, the Netherlands and Scandinavia. So, Airlines are loosing 1 Billion dollars in three days. So the need for volcano insurance was felt.   But, according to several insurance news souirces, things are not what they seem.