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It looks like the insurance industry has thought about it.

You can see some pictures of La Palma and the projected dissemination of the potential La Palma mega tsunami here: http://www.benfieldhrc.org/SiteRoot/tsunamis/la_pa lma_images.htm/

Looks like it would take about 6 hours for the tsunami to hit the East Coasts of North and South America.

These are the models you seek.

Let's look at the source:

On the front page of the Benfield Grieg Hazard Research Centre web site is this interesting statement:

BHRC is sponsored by Benfield, the world's leading independent reinsurance intermediary and risk advisory business. Benfield's customers include many of the world's major insurance and reinsurance companies as well as Government entities and global corporations. Benfield employs over 1,700 people based in over 30 locations worldwide.

<sarcasm>Why would an insurance company post such an article?</sarcasm>

These Diagrams of La Palma mega tsunami wave dissemination are scary

So you'd better watch out...if you don't play nice, we'll take the Rockies down

Hah, if you do that, then we'll blow La Palma and watch the US east coast disappear under a tsunami over half a kilometre tall! In fact, we don't need to blow it; according to this article, the collapse of La Palma becomes more likely as global temperatures rise.

However, there's no cause for panic. I have a friend working at the Instituto de Astrofisica de Canarias, and he's promised to phone me if La Palma collapses. I'll post to Slashdot as soon as I get word...