Payouts by insurers following the Canterbury earthquakes have passed the $NZ13 billion ($11.55 billion) mark, according to the Insurance Council of New Zealand (ICNZ).

More than $NZ10 million ($8.88 million) per day has been paid during this year, with a total of $NZ8 billion ($7.1 billion) in commercial claims and $NZ5 billion ($4.44 billion) in residential claims settled.

The state-owned Earthquake Commission pays the first $NZ100,000 ($88,810) of a residential claim, then passes the over-cap sum to insurers.

ICNZ says by the end of September insurers had settled 72% of all residential over-cap claims, up from 66% at the end of June.