Claims related to the Victorian floods have so far reached $69 million, the Insurance Council of Australia reported today.

Floodwaters in the north of the state are moving slowly, with the Murray River expected to exceed the minor flood level of 4.5 metres late today or early tomorrow, peaking peak around Wednesday.

The State Emergency Service says it expects “moderate to major flooding”.

So far, 48% of the 4780 claims lodged relate to residential property, 22% to residential contents, 8% to commercial property, 8% to vehicles and 14% relate to other losses.