The Insurance Council will convene one-on-one meetings between insurers or council representatives and policyholders and host a community forum for those affected by the Townsville floods.

Representatives of Queensland Legal Aid and the Australian Financial Complaints Authority will also attend. The forum will be held on Friday from 6pm and the consultations on Saturday from 9am for anyone who wants to discuss their individual claim.

Estimated losses from the floods stand at $1.24 billion, with 29,950 claims received. More than 42% of home building claims, 55% of contents claims and 76% of motor claims have now been closed by insurers.