Financial Ombudsman Service (FOS)
FOS expects uptick in complaints in 2024/25
The Financial Ombudsman Service has today announced it expects to see 47,400 insurance complaints, of which 18,700 will be about motor insurance, for the period between 1 April 2024 and 31 March 2025.
Motor insurance complaints hit five-year high
The latest Financial Ombudsman Service data, published today, shows a spike in motor insurance cases caused by valuation disputes, customer service issues, and delays in payouts.
Ghosts of hollowed out policies come back to haunt insurers
Editor’s View: Emma Ann Hughes urges motor insurers to reflect on the error of their essential motor policy-pushing ways, and show the regulator and the ombudsman their willingness to change now.
Ombudsman expects complaints about hollowed out insurance
The Financial Ombudsman Service is bracing for more complaints next year from consumers who didn’t realise cheaper insurance premiums often result in reduced cover.
Admiral is the most complained about general insurer in H1 2023
Data analysis: Admiral, Direct Line Group, Aviva, Axa and RSA were the most complained about general insurers in the first half of 2023, according to the latest Financial Ombudsman Service data.
Big Interview: Insurtech UK CEO Melissa Collett
Melissa Collett, CEO of Insurtech UK, wants to encourage more Lemonades and is going to engage with the government and regulators on what it will take to ensure insurtechs thrive.
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Time to stop treating travel insurance customers like idiots
Editor’s View: Emma Ann Hughes argues treating travel insurance customers fairly doesn’t mean treating them like an idiot only capable of ticking a box.
Why motor insurers undervalue replacing damaged vehicles
With the FCA ordering Direct Line to review motor loss claims, Jeff Winn, founder of Winn Group, explains why some insurers are underestimating the cost of replacing damaged vehicles.
Motor and buildings insurance top the most complained about products by consumers
The Financial Ombudsman Service revealed motor and buildings insurance are among the top five most complained about products for 2022/23.
Q&A: Melissa Collett, CII
In her final days at the Chartered Insurance Institute, Melissa Collett, professional standards director, reflects on the challenges facing the 126-year-old organisation and shares her hopes for the future.ding and membership body.
Ombudsman expects uptick in insurance complaints
The Financial Ombudsman Service expects the number of general insurance complaints it receives to go back to pre-pandemic levels in the year ahead.
Aviva and Direct Line Group are most-complained about insurers
Data analysis: The Financial Ombudsman Service data shows general insurance complaints have sharply increased in the second half of 2022 as consumers battle with inflation and cost-of-living.
Admiral launches telematics product; Generali partners with Supercede; FCA hires in enforcement
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
‘Serious concerns’ about Ombudsman power to increase redress awards by 20% in two years
Industry experts shared concerns that the Financial Ombudsman Service's award limits are “very high” and could push small firms out of business.
Ombudsman compensation limit soars to £415K
From the start of next month the Financial Ombudsman Service's award limits will increase from £375,000 to £415,000 for acts or omissions by insurance firms on or after 1 April 2019.
FOS aims to slash insurance complaints queue
The Financial Ombudsman Service intends to change the way it records the number of complaints against insurance companies, in a bid to encourage more businesses to settle with policyholders before an investigation is launched.
Ombudsman sees an uptick in travel and commercial property complaints
Data analysis: Financial Ombudsman Service data shows that travel insurance complaints are increasing as people head off abroad on their holidays once again following the Covid-19 pandemic.
Hiscox partners with Supercede; Zurich offering 100 apprenticeships; Stubben Edge secures further funding
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FOS car valuation complaints have spiked since 2018
Complaints to the Financial Ombudsman Service regarding the valuation of cars during the claims process rose by 45% from 2018 to 2020, according to a Freedom of Information request made by Insurance Post.