The Insurance Council expects the Wanganui floods to outstrip the Dunedin event in terms of cost to insurers.

The Council has released figures showing the June floods in Dunedin, have cost insurers $28 million.

Chief executive of the Insurance Council Tim Grafton thinks it will be around two weeks before they get an idea of the cost of the Wanganui floods.

"I suspect that will be the biggest set of claims because we had 10 million within a few days," he said.