Claims continue to pour in to insurers after last month’s deluge in south-east Queensland and northern NSW, with most claims expected to meet insurers’ provisions for a storm event.

The Insurance Council of Australia (ICA) says insurers have received 5600 claims for the NSW storms at an estimated insured cost of $37 million.

An update for Queensland is not yet available. On May 26, ICA said the claims total for the two states was about 9500 and would cost insurers about $39 million.

IAG says its subsidiaries NRMA Insurance and CGU have received about 4000 claims. Its estimated claims bill remains between $25 million and $35 million.

CEO Mike Wilkins says this event will contribute to the erosion of the deductible in IAG’s $150 million aggregate reinsurance cover.

To date, events that contribute to the aggregate cover total around $100 million including the Victorian bushfires, the Coffs Harbour storms and this most recent event.

Suncorp has not updated its May 26 estimate of 4500 claims from its personal and commercial lines companies at a maximum cost of $10 million under the existing aggregate reinsurance arrangements.

A Suncorp spokesman told insuranceNEWS.com.au the $10 million figure is “the most important to consider”.

Chris Dougherty, GM of brokers Westlawn, whose offices span from Coffs Harbour to Murwillumbah, says flood damage was limited last month because levee banks managed to contain water in populated areas.

“We’ve seen more storm-related than flood-related claims, and no total losses,” he said.

He says a few hydrologists had been brought into the Yamba area by insurers – presumably to ascertain whether damage was caused by flood or storm.