Financial Ombudsman Service (FOS)
Financial ombudsman reveals sharp rise in PPI complaints
The Financial Ombudsman Service has revealed that payment protection insurance complaints rose to 24 955 for the period October to December 2010, up 17% from the previous three months.
Claims Club news: Ombudsman relying on third parties as caseload increases
The Financial Ombudsman Service is making increasing use of outsourcing as it battles to keep up with the volume of cases it has to deal with, especially in the payment protection sector.
APPG - 20 years in force: Representation for the industry
With its 20th anniversary just passed, David Worsfold looks at the success of the All Party Parliamentary Group on Insurance & Financial Services, detailing some key highlights from two decades of debate.
Claims Club news: FOS links lack of speed to training
The Financial Ombudsman has admitted that more works needs to be done to speed up cases to conclusion, once adjudication has been challenged.
Assurant latest to target PPI market
Assurant Solutions has unveiled two new payment protection insurance products that will be underwritten at the point of sale.
Ombudsman proposes £15m budget hike as PPI claims stack up
The Financial Ombudsman Service today published its public consultation on its proposed budget for the next financial year (2011/2012).
Ruling clarifies 'double jeopardy' threats
A recent High Court ruling that will mean fewer claims reach the Financial Ombudsman Service could spell good news for insurers, according to a law firm.
Fraud Management Briefing news: Ombudsman is criticised for condoning fraud
A financial ombudsman sparked debate when she questioned whether the insurance industry should always consider that a customer who exaggerates a claim has committed fraud.
BIS 2010 - News: Hiscox boss calls for break up of ABI
Bronek Masojada, chief executive of Hiscox, has called for a separate trade body to represent the interests of general insurance from those of the life and savings sector.
ABI rebuffs Hiscox supremo's calls for trade body break-up
The Association of British Insurers has hit back at claims the general insurance industry would be better served by a separate trade body.
QBE “delighted” at lack of FOS complaints
John Neal, chief underwriting officer, QBE European Operations has revealed the firm’s delight at being at the bottom end of the Financial Ombudsman Service's complaints table.
Lloyds tops FOS complaints table
Lloyds TSB Bank has received the most general insurance complaints of any company during the first half of 2010.
Insurance Fraud 2010
Hear the latest initiatives on combating insurance fraud from Aviva, Allianz, Axa, Experian, the Insurance Fraud Bureau, the Financial Ombudsman Service and others at Post's Fraud 2010 conference later this month.
Hoban outlines regulation plans
Mark Hoban, financial secretary to the Treasury, has addressed the House of Commons following George Osborne's Mansion House speach last night on the breaking up of the FSA.
FSA extends PPI referrals
The Financial Services Authority has introduced a temporary rule to allow payment protection insurance policyholders more time to refer complaints to the Financial Ombudsman Service.
ABI levy 'disappointment'
The Association of British Insurers has revealed its disappointment at the Financial Services Authority's regulatory fees and levies for the next financial year.
FSA extends PPI complaint time
The Financial Services Authority has introduced a temporary rule to allow payment protection insurance policyholders more time to refer complaints to the Financial Ombudsman Service.
FOS blames claims management firms for rise in PPI complaints
The Financial Ombudsman Service has raised concerns over claims management companies taking advantage of problems in the payment protection insurance market to bring often spurious complaints.
Irish regulator warns of post-crisis surpervisory scepticism
The Financial Regulator, Matthew Elderfield, has warned Irish insurers that he will be more interventionist, rather than wait for a market failure to manifest itself and then cautiously weigh up the costs and benefits of a response.
FOS: Insurance disputes up 38% in 2009/10 driven by PPI
The Financial Ombudsman Service – the independent organisation that settles disputes between consumers and financial companies – today said it resolved a record 166 321 disputes – a 46% annual increase – in the period 2009/10 resulting in compensation…
Bodies meet over ash
The British Insurance Brokers' Association, the Association of British Insurers, the Financial Ombudsman Service and the Financial Services Authority met on Tuesday to discuss the fallout from claims complaints arising from the volcanic ash disruption.
Someone to watch over me
If the FSA's plans to create a consumer protection committee go ahead the insurance industry may find itself under intense scrutiny, writes Daniel Dunkley.