The ABI says consumers could be confused by new complaints data for financial services firms published today as it does not allow like-for-like comparisons.
It is the first time this kind of data has been made available publicly with firms now required to report to the FSA every six months on the number of complaints they receive and how they handle them. The data is a mixed bag for the insurance industry as complaints against life insurers fell from 203,268 in the first half of 2006 to 65,315 in the second half of 2008. However, complaints concerning general insurance and pure protection products rose from 194,730 in H1 2006 to 281,275 in H2 2008. The ABI has expressed concern about the way the data is presented, particularly as it does n...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
