By Amy Kelly

Most of the insurance claims made by Queenslanders following the floods and Cyclone Yasi have now been processed, according to industry figures released today.

Insurance Council of Australia chief executive Rob Whelan said more than 118,000 claims had been assessed at a value of $3.6 billion.

“The dedicated effort of the general insurance industry has resulted in 97 per cent of all claims having been assessed and the customers informed of the insurer’s decision,” he said.

About $12 million worth of claims were being made each day as insurers paid out about $960 million worth of cyclone and flood claims.

Mr Whelan said the delays over the release of funding from the flood appeal was beyond the industry’s control and he was concerned about comments which point the finger of blame at insurance companies.

“The insurance industry has at all times been ready to provide what assistance it can to facilitate the flow of government assistance to Queenslanders affected by the flood,” he said.

The outstanding three per cent of claims needed more information before they could be settled, he said