FOS

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.

The FSA has banned a former IFA company director for sending a fake letter to a client saying the Financial Ombusdman (FOS) had awarded them thousands of pounds.

Bronek Masojada, the 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.

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 (FOS) dealt with almost 400 complaints relating to collapsed stockbroker Wills & Co in the first half of the year, finding 99% in favour of the consumer.

Last month's issue included a fascinating article on the concept of outsourcing disability benefits to the mutual insurance sector and an income replacement top-up which would be paid in addition to State Benefit (page 6 COVER Aug 2010).

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.

The Keydata saga was further complicated this week as a row broke out between Norwich & Peterborough and the FOS over the sales of Keydata plans through the building society.