Protection and private medical insurance complaints to the Financial Ombudsman Service (FOS) remained steady over the second quarter of the year.
The Financial Services Authority (FSA) has fined the Bank of Scotland (BOS) £3.5m for failures in handling customer complains, and secured £17m in compensation for customers.
The FSA has been criticised for multiple failures related to its delivery of enforcement documents, including leaving unencrypted discs with a neighbour of the subject of an investigation.
Insurance and investment companies could reduce their complaints significantly by improving their administration and customer service, according to a complaints survey.
The proposed increased Financial Ombudsman Service (FOS) award limit is ‘not keeping pace'with today's costs, according to the (FOS).
The FSA has proposed changes to its complaints handling procedure as it reveals pure protection grievances continued to grow in the first half of the year.
Customer service, we are constantly told, is a prime way to differentiate between insurance providers.
Adviser networks had half of the complaints against them referred to Financial Ombudsman Service (FOS) upheld in the first six months of the year.
The Financial Ombudsman Service (FOS) has revealed that consumers and businesses are digging their heels in over disputes forcing it to make a greater number of decisions.