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Complaints about insurer conduct and BI drop to pre-pandemic levels

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Complaints about insurer conduct and business interruption have dropped almost to pre-pandemic levels, while calls for compensation relating to travel and roadside assistance cover are both at a three-year high, according to the latest Financial Ombudsman Service and Financial Conduct Authority data.

Post’s Financial Conduct Authority and Financial Ombudsman Service Complaints Trackers, displaying data up to H1 2022 for the regulator and Q3 2022 for the ombudsman, reveal fewer issues with insurer

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Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.

Why Which? submitted an insurance super-complaint

Rocio Concha, director of policy and advocacy at Which?, explains why the consumer watchdog launched an insurance super-complaint in response to persistent failures in claims handling and inadequate regulatory action and argues the system meant to protect customers urgently needs reform.

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