Analysis

FOS complaint volumes surge as Consumer Duty deadline looms

By Matt Scott 2023-04-04T10:00:00

complaints (2)

With the implementation deadline for the new Consumer Duty regulations fast approaching, Insurance DataLab analyses the latest ombudsman complaints figures to see how the industry is performing

Insurers are facing a surge in complaint volumes with the number of general insurance (GI) cases being referred to the Financial Ombudsman Service (FOS) rising by a third over the final quarter of 2022.

The ombudsman received more than 8,700 complaints over the last three months of 2022, according to the latest analysis by Insurance DataLab, as referrals reached their highest volumes since the second quarter of 2021 at the tail-end of a Covid-19 inspired spike in cases.

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