As the physician aboard Michael's last 2 Antarctica trips, I can tell you that aside from pocketing their CF cards, and perhaps a camera hung around the neck, everything else went to go live with the fishes!! Life boats are small!! You grab your wallet, passport, medications, perhaps some small portable hard drives, don your Personal Floatation Device, and squuuueeeeezzzzeeee into the life boat. Trip insurance exists for a reason, and anyone considering such a voyage should invest the few hundred bucks.
Scott