Financial Ombudsman Service (FOS)
FOS proposes changes to case fee structure
The Financial Ombudsman Service (FOS) has launched a consultation aimed at changing its case fee structure.
FOS to introduce £350 PPI surcharge
The Financial Ombudsman Service (FOS) has revealed plans to introduce a supplementary case fee of £350 from April 2012 for firms that have more than 25 payment protection insurance (PPI) complaints.
Consumer champion slams travel insurers
An investigation by Which? has revealed that nearly one third of its members who told their travel insurance provider about a medical condition after taking out a policy had to pay a higher premium or had their cover removed.
ABI questions Ombudsman's publishing policy
The Association of British Insurers (ABI) has questioned the Ombudsman’s policy of publishing all its decisions.
New FOS chair expects "record levels" of customer demand
The Financial Services Authority (FSA) has today announced the appointment of Sir Nicholas Montagu as the new chairman of the Financial Ombudsman Service (FOS).
FOS mulls budget expansion as PPI claims hit record high
The Financial Ombudsman Service (FOS) has warned that the rate of payment protection insurance (PPI) claims has climbed “steeply” to over 3,000 a week.
Broker subsidiary comes under fire for cancellation policy
Brightside subsidiary, Ecar, has come under fire for refusing up to 25% of applications for motor insurance following an investigation by Radio Five Live.
New PI product for property agents hits the market
Property insurance broker Deacon has developed a new professional indemnity insurance product for managing agents.
Ombudsman reports sharp drop in PPI complaints
The Financial Ombudsman Service (FOS) has revealed a 66% drop in payment protection insurance (PPI) complaints in its quarterly complaints report.
Which? hits out at claims management companies over PPI
Which? has slammed claims management companies (CMCs) for providing “all too common” misleading advice, unfair contract terms and a lack of transparency about fees after an investigation into payment protection insurance (PPI).
FOS names and shames PPI providers
The Financial Ombudsman Service (FOS) has named the providers of payment protection insurance (PPI) cases as it announced that complaints more than doubled to 98,632 in the first six months of 2011 compared to the second half of 2010.
PPI complaints soar to new high
The Financial Ombudsman Service (FOS) has revealed it handled 98,632 new complaint cases for payment protection insurance (PPI) in the first six months of 2011, more than double the total of 46,275 in the previous half year.
PPI payments hit £215m in first half of 2011
The Financial Services Authority (FSA) has revealed that consumers who complained about being mis-sold payment protection insurance (PPI) received £215m from firms in the first six months of 2011.
Brokers suing clients over contested complaints could breach TCF
Brokers that sue clients for complaining could be in breach of Treating Customer Fairly (TCF) principles.
PPI mis-selling crisis strikes Ireland
The Irish Central Bank has launched an investigation into the mis-selling of payment protection insurance on loans.
New quarterly FOS data indicates PPI complaints set to double
The Financial Ombudsman Service’s (FOS) data for the first quarter of the financial year 2011/2012 has revealed that it received over 81,000 complaints – more than double the number received in the same period last year.
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers (IIB) has presented research to the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS) showing that brokers with an income of £500,000, £1m or £5m have seen their Financial Services Compensation…
Ombudsman slams claims companies over PPI scandal
Claims management companies (CMCs) have “exploited” payment protection insurance (PPI) complaints, according to the Financial Ombudsman Service’s (FOS) legal director.
Ombudsman calls for more decisive action from FSA
One of the Financial Ombudsman Service’s (FOS) principal ombudsman, Tony Boorman, has questioned the benefits of a complaints-led strategy, calling for a more proactive approach from the regulator.
Ombudsman's increased award limit will impact regulated firms
A professional indemnity expert has challenged the Financial Services Authority’s (FSA) claim that the Ombudsman’s increased award limit would not impact regulated firms.
More judicial reviews but no certainty of success, says RPC
There will be more judicial reviews following the decision by the Financial Services Authority (FSA) to increase the top limit of awards by the Financial Ombudsman Service (FOS) however recent events mean the regulators will be “emboldened” in defending…
Judicial reviews will rise after FOS award change, warns law firm
The announcement by the Financial Services Authority (FSA) that the Financial Ombudsman Service's (FOS) maximum binding award is to be increased to £150,000 will lead to an increase in judicial reviews according to lawyers at Browne Jacobson.
FSA confirms new consumer complaint handling rules and ups FOS award limit to £150,000
The Financial Services Authority (FSA) has confirmed new complaints handling rules as part of a package of measures designed to drive up standards within the industry.
Insurance Age blog: Insurance isn't the problem says Galbraith
In a special guest blog, chief executive of the British Insurance Brokers' Association, Eric Galbraith, argues that the industry needs to work together to improve public perception.