The Insurance Council of Australia (ICA) has revised the estimated insured losses of the Mackay floods to $163 million as claims continue to mount two weeks after the event.

Insurers have taken in some 12,500 claims to date.

Suncorp has so far handled 3500 claims. It expects the total cost to top the maximum $100 million it is liable for under the terms of its reinsurance.

CGU has to date received 1100 claims, mostly relating to home and contents damage, as well as damage to vehicles and commercial premises.