Insured losses from the huge east coast storms have reached $74.3 million and are expected to rise further after insurers finish tabulating claims, the Insurance Council of Australia (ICA) says.

About 19,100 claims have been received in Queensland, NSW, Victoria and Tasmania, with this figure also likely to rise.

ICA expects to provide an update on the figures later this week.

It says insurers are well equipped to manage the situation, which is less devastating than recent natural disasters including east coast storms last year and the 2014 Brisbane hailstorm, which led to insured losses of $950 million and $1.4 billion respectively.

“Though this is clearly a devastating event for those directly affected, the overall impact of these storms remains well below some other recent events… so insurers are well resourced to help all policyholders needing assistance,” GM Policy Risk & Disaster Karl Sullivan said.

IAG and Suncorp have started the recovery effort, offering assistance to clients and dispatching assessors to affected areas.

Suncorp and its stable of insurance brands including Vero, AAMI, GIO and Apia have received about 7000 home, motor and commercial claims.

An estimate of its claims cost is not yet available.

IAG has estimated a pre-tax net claim cost of $60-$80 million. About 10,000 claims have been received.

The two insurers say their immediate focus is to help clients return to normality as quickly as possible.

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