The north Queensland monsoonal flood claims bill has reached $1.23 billion, according to latest figures from the Insurance Council of Australia.

The floods led to 29,089 claims, with 18,737 still open and 328 denied. There were 26,053 domestic claims, valued at $918 million. Commercial claims totalled $307 million.

Suncorp says it is managing more than 5870 claims with the assistance of hundreds of Townsville tradies, companies and suppliers.

With 45% finalised, Suncorp has paid more than $132 million in home and contents claims and has also settled more than one-third of commercial claims.

“There’s still a long way to go,” Suncorp Head of Claims Paige Vincent said. “It’s a huge challenge to manage thousands of claims simultaneously, but we’re working closely with our building partners to ensure we progress them as efficiently as possible.”

Combined insured losses from the floods in north Queensland and the Sydney hailstorm in December stand at $2.52 billion. Hail losses in Sydney were $1.3 billion at May 10.

The Insurance Council says 91% of the 137,795 Sydney hailstorm claims were from domestic policyholders, who have received $1.04 billion in payouts. The remaining $257 million went to commercial clients. There are 74,558 hailstorm claims still open.