Insurance complaints down as banking complaints rise

customer complaint

General insurance complaints fell in the first half of this year, according to the latest figures from the FCA

There were 304,919 customer complaints about general insurance excluding PPI in the January-June, down 4.3% from the previous six months.

Including PPI, the figure was also down, showing a 13.6% decline to 1.2 million complaints.

The FCA said overall complaints about all financial services firms fell 2.1% to 2.1 million in the first half.

However, that overall decline was due to a 16.6% drop in PPI complaints to 883,043, the first fall below 1 million complaints for the half year since 2012. But PPI is still the most complained-about product.

Excluding PPI, overall complaints about all financial services companies rose 11.6% to 1.3 million. That rise mainly stemmed from a 21.8% rise in complaints about banking and credit cards.

The FCA’s director of strategy and competition, Christopher Woolard, said: “While the ongoing fall in PPI complaints is welcome, this is the second half-year running that we have seen complaints about banking products rise.”

 

 

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