Claims for the Queensland floods continue to rise, with Insurance Council of Australia (ICA) members so far receiving more than 43,755 claims worth an estimated $2 billion.

The figures released on Friday cover residential and commercial property and have risen by $500 million since ICA’s last update on January 30. This indicates that larger claims from industry, commerce and mining are now being made.

ICA says insurers have completed 77% of the initial claims assessment and $201 million has already been paid to policyholders.

So far 5590 claims have been received relating to the Victorian floods for $67 million of insurable value. Insurers have completed 65% of initial claims assessments.

Some insurers have already outlined their estimates of claims costs, with more details likely later this month when larger companies such as Suncorp and Allianz release their results.

XL Group, releasing its fourth-quarter results last week, says it expects losses of $US75 million-$US95 million ($74.7 million-$94.6 million) related to flooding in Australia.

QBE told the Australian Securities Exchange last week its estimated cost for the Queensland floods in late 2010 is $US45 million ($44.9 million), while disasters in Queensland, northern NSW and Victoria last month are likely to cost around $US100 million ($99.9 million). QBE’s “very preliminary estimate” from Cyclone Yasi is around $US100 million.

IAG has estimated net claim costs from the storms and floods in southeast Queensland and northern NSW, the Victorian floods, Melbourne storms, WA bushfires and Cyclone Yasi at around $300 million.