FOS upholds half of all complaints

clock

The Financial Ombudsman Service (FOS) is currently upholding about 47% of all complaints, according to the FOS' own figures.

Data for the three months to December 2012 show the vast majority of complaints - 145,546 out of 180,679 in total - relate to payment protection insurance (PPI).

That takes the total number of PPI complaints for last year to 244,873. The FOS said it is currently taking on between 8,000 and 10,000 new PPI complaints each week, meaning it expects to receive more than 350,000 PPI complaints this year.

So far this financial year - from last April - the FOS has found in the consumers favour in 62% of PPI cases, down from seven out of ten complaints.

The ombudsman has received 341,666 new complaints across all products since April 2012, and received more complaints in the last quarter than in any year between 2000 and 2010.

Mortgage endowments accounted for 3,367 complaints in the year to date since April. Whole of life policies made up 1,893.

Complaints about personal pensions were at 1,537 for the year to date from April. Portfolio management complaints totaled 1,173 for the same period.

More on Regulation

Most firms unable to meet bereavement claims performance levels: FCA

Most firms unable to meet bereavement claims performance levels: FCA

Call for improved bereavement handling times

Cameron Roberts
clock 22 November 2024 • 3 min read
Record-high receipts for IPT and employer NICs

Record-high receipts for IPT and employer NICs

HMRC data

Cameron Roberts
clock 21 November 2024 • 2 min read
Chancellor targets FOS modernisation and FCA consultation

Chancellor targets FOS modernisation and FCA consultation

Consultation part of the advice guidance boundary review

Isabel Baxter
clock 15 November 2024 • 3 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read