Financial Ombudsman Service

The Financial Ombudsman Service (FOS) is to make further cuts to its operating budget in the coming financial year and has frozen its levy at £23.3m.

The Financial Conduct Authority (FCA) has made a number of recommendations changes to the ways firms handle consumer complaints, following a review of 15 financial firms.

The Legal Ombudsman will from January 2015 deal with complaints about claims management companies (CMCs).

As a survey on the Financial Ombudsman revealed almost three-quarters of advisers see themselves as the victim of false accusations for compensation, how far is the industry from restoring confidence in the ombudsman system?

The proportion of critical illness complaints upheld by the Financial Ombudsman Service rose by 1% to 25% in the July-September 2014 quarter.

Quarterly statistics from the Financial Ombudsman Service (FOS) has revealed a 10% drop in upheld complaints in private medical insurance (PMI) and dental insurance.

The way in which the insurance industry works is likely to see huge changes in the near future predicted a panel at the cover forum.

Around three-quarters of advisers have received false or manufactured accusations from Financial Ombudsman Service (FOS) complainants, an increase in 10% over three years.

The Financial Ombudsman (FOS) has published case studies of typical private medical insurance (PMI) and protection claims to illustrate the type of claims it has received.

The Financial Ombudsman Service (FOS) is failing to take all evidence into account when ruling on complaints against advisers, and is sometimes not giving reasons for its decisions, advisers have claimed.