The Insurance Council of Australia (ICA) says almost half the claims from summer bushfire, hail and storm catastrophes have been closed, as estimated losses from the events continue to rise.

More than 15,000 new claims worth $270 million were lodged in the past four weeks, taking total costs to more than $5.19 billion.

“Insurers have already paid more than $2.85 billion for emergency accommodation, business interruption, repair and rebuilding work, replacement of motor vehicles and goods, services and settlements,” spokesman Campbell Fuller said.

“This is despite the widespread impact of the natural disaster season and the handbrake effect of COVID-19.”

The total value of claims includes $2.32 billion from bushfires, $451.4 million from southeast Queensland hailstorms, $1.53 billion from ACT, Victoria and NSW hailstorms in January and $895.5 million from east coast storms in February.

For the bushfires disaster, almost two-thirds of residential building claims have been closed. In other lines, 80% of contents claims, 70% of motor vehicle claims and more than 50% of business interruption claims have been finalised.

ICA says the industry is still assessing the claims impact from the COVID-19 pandemic, which was declared a catastrophe on March 11.