FOS complaint volumes surge as Consumer Duty deadline looms

complaints (2)

With the implementation deadline for the new Consumer Duty regulations fast approaching, Insurance DataLab analyses the latest ombudsman complaints figures to see how the industry is performing

Insurers are facing a surge in complaint volumes with the number of general insurance (GI) cases being referred to the Financial Ombudsman Service (FOS) rising by a third over the final quarter of 2022.

The ombudsman received more than 8,700 complaints over the last three months of 2022, according to the latest analysis by Insurance DataLab, as referrals reached their highest volumes since the second quarter of 2021 at the tail-end of a Covid-19 inspired spike in cases.

Read more… 

Explore more ombudsman-related content here or discover other news analysis content here

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

Register now

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Top level access to our Five Star service ratings across our annual Personal Lines, Commercial Lines, eTrading and MGA reports.
  • A choice of daily and weekly email newsletters that suit you, to keep informed of news across the industry directly to your inbox.

As a subscriber you will benefit from unlimited access to our news and news analysis, magazine editions, special supplements, exclusive research reports and full access to the Five Star service rating microsites - view subscription options.