Queensland Treasurer Andrew Fraser has put the overall damage bill from Cyclone Yasi at around $800 million.

This includes $175 million in damage to roads and transport, $340 million to local government assets, and significant damage to state assets such as schools. He says $190 million will be provided in grants and loans to help the banana and sugar industries.

Meanwhile, the Insurance Council of Australia’s latest catastrophe statistics show the recent series of events will cost insurers up to $2.8 billion in claims.

More than 105,157 claims have so far been submitted, made up of 43,755 for the Queensland floods, 5590 from Victoria’s floods, 30,600 from Cyclone Yasi, 24,802 claims from the February 4 Victorian storm and 410 from the WA bushfires.

Although costs are continuing to mount, the insured flood damage bill for Queensland is currently sitting at $1.98 billion, plus a further $67 million for Victoria’s floods.

Cyclone Yasi has so far reached $517.5 million in damages while Melbourne’s February 4 severe storm is costing more than $175 million and the WA fires $34.5 million.

This has already surpassed last year’s catastrophe figures of around $2.5 billion.