Insurers have received 150,774 claims related to NSW/Queensland floods – a 1.9% increase on yesterday’s figures.

The Insurance Council of Australia (ICA) says based on previous flood events the estimated cost of claims is now $2.262 billion.

ICA CEO Andrew Hall has spent much of the last two weeks on the ground in southeast Queensland and northern NSW meeting with all levels of government, recovery agencies and local community members.

“The scale of the flooding, damage and destruction to communities is unlike anything I've witnessed first-hand before,” he said.

“I cannot overstate how significant this event is on a national scale, let alone for all the individuals who have been impacted.”

Mr Hall says in the face of such significant damage, along with material and labour shortages, the road to recovery will be “challenging”.

“I’ve been overwhelmed by the community spirit in towns impacted, as well as the commitment from our insurers who are on the ground, supporting people when they need it most.”