According to the latest statistics more than 35 percent of insurance claims relating to Cyclone Larry have been settled in the three months since the storm struck in Far North Queensland. Approximately 30,000 claims have been received following Larry's devastating arrival, three-quarters of which are claims relating to buildings and contents insurance.

The Insurance Council of Australia said it was delighted with the positive reaction of the insurance industry to the storm. Residents of Innisfail (where the storm struck) are "seeing real results from the insurance industry," according to ICA chief executive Philip Maguire. Positive and rapid action is high on the agenda, according to Maguire. "While the process of lodging a claim inevitably takes time, insurers are giving high priority to expediting this process," he added.