The Insurance Council of Australia has declared floods in NSW a significant event, as heavy rain continues.

The flooding has mostly hit Mid North Coast communities including Taree, Port Macquarie-Hastings, Kempsey, Nambucca Valley, Bellingen and Coffs Harbour. Parts of the Hunter region are also affected.

ICA CEO Andrew Hall says the unfolding event is already breaking records, evacuation orders are in place for many towns, and more rain is forecast for coming days.

“While this significant event declaration is for those regions most impacted by flooding to date, we are closely monitoring the severe weather across the entire state,” he said this afternoon.

The floods may be escalated to an insurance catastrophe if there is a significant increase in claim numbers or complexity, if the geographical spread widens, or in consultation with insurers.

The Bureau of Meteorology has warned six-hourly rainfall totals of 100-150mm remain possible, with potential 24-hour totals of 200-300mm. Major flood warnings remain in place for rivers including the Paterson, Williams, Manning and Gloucester.

Taree received another 132mm of rain overnight and continued falls today have taken totals to more than 400mm since Monday morning. The ABC reported the town was cut off, while across the region about 300 people were in evacuation centres.

NSW Emergency Services Minister Jihad Dib says there were 284 flood rescues in the Mid North Coast and Hunter regions over a 24-hour period, and record rainfall and flooding affected the Manning River.

Meteorologist Miriam Bradbury says the forecast map shows further wet weather into tomorrow.

“We can see rain and flooding continuing across much of NSW as a deep low-pressure trough lingers in the area,” she said.