Aviva heads list of complaints about insurers
Lloyds TSB is the most complained about vendor of general insurance, according to newly published information from the Financial Ombudsman Service (FOS).
The FOS tables reveal that Lloyds had 3,466 complaints made against it for the first six months of this year, followed by Barclays Bank with 2,085.
Many of the complaints stem from payment protection insurance (PPI).
On average, the FOS upheld about 70% of complaints. This rose to 92% against Lloyds TSB Insurance Services. Sixty-two per cent against Lloyds TSB general insurance were upheld.
Aviva received the highest number of complaints (669) for an insurer, as opposed to a bank.
FOS chairman Sir Christopher Kelly said he would write to the chairmen of the financial businesses that generated the most complaints “to ask them to consider very carefully both their own complaints performance and the complaints performance of their competitors”.
The ABI said the data was misleading, however. “Any such data must be presented in a way that helps consumers make informed choices,” director of consumer strategy Maggie Craig said.
“The way that the FOS has presented this doesn’t achieve that and may, in fact, mislead consumers about the performance of individual firms. For example, they can’t compare performance by sector or by product.”