A year after Townsville was inundated in a massive flood, the Insurance Council of Australia (ICA) will tomorrow host consultations with policyholders who still have unsettled claims.

Losses from the event have reached $1.269 billion from 30,702 claims lodged, with 4089 still open, according to data from January 12. But ICA says most of the claims awaiting closure are now at the administration stage.

The flooding was caused by torrential rain that fell over far north Queensland during the last week of January and first week of February last year. Hundreds of residents were evacuated and thousands of homes flooded. ICA declared a catastrophe on February 2.

“More than 95% of severely damaged homes are now fully repaired,” ICA Head of Risk and Operations Karl Sullivan said.

“ICA and insurers have had a constant presence in Townsville for the past year. Many insurers set up customer service centres, and ICA has hosted six policyholder meetings and arranged more than 500 consultations between customers and insurers to help resolve issues and accelerate claims handling and rebuilding.”

Claim numbers continued to rise well after the event. Some 500 claims were lodged in the past five months, including a further 28 between December 12 and January 12.

Policyholders with unsettled claims have been invited to register for one-on-one consultations with their insurer at the forum in Townsville.

Suncorp says around 95% of its customers’ homes have been repaired and it and has finalised 83% of commercial property claims received. Completing the remainder is a high priority.

“There are a range of reasons why these home claims remain open, including the extent and complexity of repairs, ongoing discussions to agree on scopes of work and arranging alternative quotes,” a spokesman told insuranceNEWS.com.au.

“Likewise, there are a range of reasons for ongoing work required for commercial property claims, but primarily it relates to severity and size of damage being repaired.”

IAG says it received more than 2800 claims following the floods and has finalised 91% of repairs.

Damage caused by the event was significant and the insurer says it allocated extra builders to efficiently assess and repair homes.

“We have a dedicated team managing claims from this event and have prioritised claims for vulnerable customers,” IAG Major Events EM Craig Byfield said.

The Australian Financial Complaints Authority (AFCA) had received 148 complaints related to Townsville flood claims as of Tuesday and had resolved 51%.

Of the complaints resolved, 71% have been by agreement or in favour of complainants and more than $1 million in compensation has been awarded.

The region has received heavy rainfall this week, breaking records in some areas and causing flooding. IAG says it has received around 75 claims.

Ayr, south of Townsville, received 320mm in 24 hours, breaking the 1998 daily record of 190mm.