Markets

Australia’s insurance industry praises a new $10 billion government fund to boost coverage in cyclone-prone regions

The Federal Government’s announcement of a $10 billion reinsurance scheme for northern Australia has been praised by a peak insurance industry body. The reinsurance pool, and a $40 million resiliency project, are intended to drive down insurance premiums and improve coverage in cyclone-prone regions. Insurance Council of Australia CEO Andrew […]
Australia’s insurance industry praises a new $10 billion government fund to boost coverage in cyclone-prone regions
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A category 4 cyclone flattened Tonga’s parliament

Tonga is cleaning up after a category 4 cyclone tore through the island nation late Monday. Roofs were torn off buildings and Parliament was flattened. The full extent of damage is still being assessed. The cyclone was heading towards Fiji’s southern islands on Tuesday. Tonga is cleaning up after a […]
A category 4 cyclone flattened Tonga’s parliament
News

Here’s why all hurricanes spin counterclockwise in the northern hemisphere

Hurricanes and tropical storms that hit North America or any place in the northern hemisphere spin counterclockwise. All cyclones and tropical storms in the southern hemisphere spin clockwise. The direction of a hurricane’s spin is caused by a phenomenon called the Coriolis effect. Visit Business Insider’s homepage for more stories. […]
Here’s why all hurricanes spin counterclockwise in the northern hemisphere