The Insurance Council of Australia (ICA) hosted a forum in Townsville on Saturday for policyholders with unsettled claims, a year after the north Queensland city experienced a massive flood.

Losses from the event have reached $1.269 billion from 30,702 claims lodged, with 4089 still open, according to data from January 12. But ICA says most of the claims awaiting closure are now at the administration stage.

The flooding was caused by torrential rain that fell over far north Queensland during the last week of January and first week of February last year. Hundreds of residents were evacuated and thousands of homes flooded. ICA declared a catastrophe on February 2.

“More than 95% of severely damaged homes are now fully repaired,” ICA Head of Risk and Operations Karl Sullivan said.

Claim numbers continued to rise well after the event. Some 500 claims were lodged in the past five months, including a further 28 between December 12 and January 12.

Suncorp says around 95% of its customers’ homes have been repaired and it has finalised 83% of commercial property claims received. Completing the remainder is a high priority.

“There are a range of reasons why these home claims remain open, including the extent and complexity of repairs, ongoing discussions to agree on scopes of work and arranging alternative quotes,” a spokesman told insuranceNEWS.com.au.

IAG says it received more than 2800 claims following the floods and has finalised 91% of repairs.