Financial Ombudsman Service

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Mon 21 Sep 2009 10:41
Financial Ombudsman Service - Chris M
The Financial Ombudsman Service now publish a league table by company of the number of complaints they receive and the percentage resolved in favour of the consumer.

Insurance companies come in for some stick here, but it's interesting to see the relatively low percentages for some of the household names shown. An indication that some companies may actually try to treat their customers fairly when interpreting policy conditions?

www.ombudsman-complaints-data.org.uk/
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Mon 21 Sep 2009 11:35
Financial Ombudsman Service - Armitage Shanks {p}
Thanks for the very informative link Chris M. Having had dealings with the FOS earlier this year I was pleased with the outcome and I was interested to see that the organization I was dealing with (Barclays) have 71% of complaints against the upheld and for Lloyds the figure is amazing 95%! Motto, if you think you have a sound case chase it! It costs nothing, the paperwork is really easy and you have a very good chance of a 'result'. Mine was pretty simple and took 10 months overall but only 6 weeks once I stopped dealing with Barclays and got the Ombudsman involved.
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Mon 21 Sep 2009 11:42
Financial Ombudsman Service - jbif
.... the paperwork is really easy and you have a very good chance of a 'result'. Mine was pretty simple ... >>


Illustration of how easy it is:
" .... someone crashed into my car and as a result my car ended up beyond repair ...
they?ve come back saying that they?re going to give me £1,000 but that this is their final offer. I am not at all happy ? since I know that it?s going to cost much more than that to replace the car ... "

www.financial-ombudsman.org.uk/about/helped-me/tra...m

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Mon 21 Sep 2009 12:26
Financial Ombudsman Service - Bill Payer
Hmm...could take 6 mths though. How many people running £2K cars could be without the car or the money for 6mths?

Did I read somewhere that the insurance companies have to pay £500 to the FSA for every complaint they investigate - whatever the outcome? If that's true then it must be costing some of them significant amounts and should put them under pressure to resolve complaints internally.
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Mon 21 Sep 2009 16:11
Financial Ombudsman Service - Wilco {P}
Did I read somewhere that the insurance companies have to pay £500 to the FSA
for every complaint they investigate -


Case fees only kick in for the fourth (and upwards) complaint against a firm. So most small firms who get low complaints volumes don't pay case fees. Thereafter it's £500 case fee for each complaint, payment goes to the Ombudsman service, not the FSA.
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