Financial Ombudsman Service releases new complaints stats

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The Financial Ombudsman Service (FOS) received 4.4% more new general insurance complaints in the first half of 2016 than in the same period last year.

The increase is at odds with the downward trend in new complaints seen elsewhere in the financial services industry.

FOS new complaints H1 2016

 H1 2016H1 2015% change
General insurance 17,103 16,378 4.4
PPI 91,381
94,091
-2.9
All finacial services (excluding PPI) 77,751 79,903 -2.7
total 169,132
173,994
-2.8
upheld rate  48 57 -9.0

The FOS received 17,103 new general insurance complaints in the six months to 31 June 2016.

This is an increase of 4.4% on the 16,378 the ombudsman received in last year’s first half.

The figures exclude complaints about payment protection insurance (PPI).

The rise in general insurance complaints is at odds with the trend elsewhere in financial services.

The FOS received 91,381 new complaints about PPI in the first half of 2016, down 2.9% on the 94,091 received in the same period last year.

Total financial services new complaints excluding PPI were down 2.7% to 77,751 (H1 2015: 79,903).

Total new complaints across all financial services, including PPI, were down 2.8% to 169,132 (H1 2015: 173,994)

The average complaints upheld rate across all financial services in the first half of 2016 was 48% (H1 2015: 57%).

Chief ombudsman Caroline Weyman said: “The data we have published about complaints over the last decade or so helps to illustrate a challenging and volatile period for financial businesses. But the current signs are that complaints are now broadly levelling off and moving onto a more even keel.”

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