FOS

It is perhaps not a little ironic that on the eve of deadline day for three major banking groups to resolve their pre-judicial review payment protection insurance (PPI) complaints, another possible ‘protection' mis-selling scandal is uncovered.

The Association of Medical Insurance Intermediaries (AMII) has applauded the latest Financial Ombudsman Service (FOS) complaints statistics as a success for the health insurance sector.

Protection and private medical insurance complaints to the Financial Ombudsman Service (FOS) remained steady over the second quarter of the year.

The Financial Ombudsman Service (FOS) has hit out at the FSA for not intervening to tackle the Payment Protection Insurance (PPI) problem sooner and criticised the industry for being addicted to regular mis-selling scandals.

The Financial Ombudsman Service (FOS) has released a consumer fact sheet clarifying the importance of medical non-disclosure.

New cases for the Financial Ombudsman Service(FOS) soared by 26% in the year to March 31 2011, driven by a record number of complaints about PPI mis-selling.

Defaqto has said it believes short term income protection (IP) products are likely to become the replacement for payment protection insurance (PPI).

The British Bankers' Association (BBA) has drawn a line under its legal fight to avoid PPI mis-selling payouts.

The Competition Commission (CC) has confirmed the banning of payment protection insurance (PPI) sales at the point of credit sale for seven days and introduced a wide range of rules governing the product.

The financial Ombudsman (FOS) is calling for a budget increase of up to £15m in 2011/12 to deal with a shift towards harder-fought cases, but says it will freeze case fees and its general annual levy for the second year running.