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Financial Ombudsman releases latest complaints data on individual financial businesses

Financial Ombudsman Service

The Financial Ombudsman Service has released its fourth set of six-monthly complaints data relating to individual financial businesses - including insurance companies.

 

The data covers consumer complaints handled by the ombudsman service between 1 July and 31 December 2010. The data includes both the number of complaints received about individual businesses and the percentage of complaints upheld by the ombudsman service in favour of consumers.

 

During this six-month period, the ombudsman service received a total of 97,237 new complaints - an increase of 15% on the 84,212 cases received in the first half of 2010. It upheld an average of 53% of complaints in favour of consumers, compared to 44% in the first half of 2010. Complaints about payment protection insurance now account for over half of all new cases being referred to the ombudsman service.Most complaints are against banks.

 

The number of complaints about private medical insurance are much lower and are less likely to be upheld in favour of the consumer compared to other insurance products

 

Data for individual businesses shows that of the 36 complaints about Aviva Health UK, 35% were upheld in favour of the consumer, compared to 41% of the 49 about AXA PPP healthcare and 50% of the 64 about Bupa Insurance Ltd (which includes other forms of insurance).

 

Private medical insurance news: 10 March 2011