The Australian Reinsurance Pool Corporation (ARPC) has this week made its inaugural declaration of a cyclone event following the arrival of the first tropical cyclone in local waters this summer.

The Cyclone Reinsurance Pool, which came into effect in July ahead of insurers joining the scheme, will cover claims for damage arising from the time a cyclone begins until 48 hours after it ends, as marked by ARPC declarations based on Bureau of Meteorology advice.

The Bureau of Meteorology earlier this week said Cyclone Darian had formed west of the Cocos (Keeling) Islands. The cyclone had reached category five intensity today, but was moving westward away from the islands and mainland Australia.

The ARPC declared the event in a notice published on its website dated December 19.

An above-average number of tropical cyclones is expected for the current Australian tropical cyclone season, which runs from November 1 to April 30.

In La Nina years, the first cyclone to make landfall on the Australian coast typically occurs earlier than normal, around the middle of December. During average years, the date of the first tropical cyclone to make landfall is more likely in early January.

The bureau said yesterday that a La Nina is continuing in the Pacific, but some indicators show signs of declining strength. Models suggest that ocean temperatures may reach neutral levels next month or in February.