Figures from the Financial Ombudsman also put Aviva, Ageas, Axa and RSA into the top five most complained about providers.
Figures from the Financial Ombudsman Service have revealed that Direct Line Group, via the business name UK Insurance, was the most complained about provider in the first half of 2017.
The insurer received 1,447 new general insurance complaints during the period. These complaints exclude PPI.
Aviva was the next most complained about with 1,051 followed by Ageas (773), Axa (623) and RSA (622).
The figures show the total number of complaints but do not take into account the size of the business nor do they compare the numbers of complaints against the number of policies sold.
New cases
The Ombudsman noted in a statement that across the entire financial services sector it took on a total of 170,000 new cases in the first six months of this year.
The Ombudsman reported: “This represents a 13% increase in complaint figures when compared to the last six months of 2016 – and reflects rises in almost every product sector including PPI and banking.”
Almost two thirds of the complaints it received in the first six months of this year came from just 10 businesses the majority of which are banks.
PPI continued to be the most complained about product with almost 90,000 complaints – making up over half of all complaints to its service. Last year the ombudsman said PPI complaints accounted for half of its workload. However, a slight fall in PPI complaints was recorded in the first half of 2017.
The average uphold rate (where the ombudsman found in the consumer’s favour) for all businesses over the six-month period was 36% – and ranges from 3% to 79% across the individual businesses.
Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, commented: “We’ve seen more complaints about most types of financial products in the first half of 2017.”PPI
Looking ahead, Wayman predicted that the Ombudsman would see an increase in PPI complaints due to the Arnold Schwarzenegger frontedFinancial Conduct Authority (FCA) ad campaign.
Figures from the Financial Ombudsman Service have revealed that Direct Line Group, via the business name UK Insurance, was the most complained about provider in the first half of 2017.
The insurer received 1,447 new general insurance complaints during the period. These complaints exclude PPI.
Aviva was the next most complained about with 1,051 followed by Ageas (773), Axa (623) and RSA (622).
The figures show the total number of complaints but do not take into account the size of the business nor do they compare the numbers of complaints against the number of policies sold.
New cases
The Ombudsman noted in a statement that across the entire financial services sector it took on a total of 170,000 new cases in the first six months of this year.
The Ombudsman reported: “This represents a 13% increase in complaint figures when compared to the last six months of 2016 – and reflects rises in almost every product sector including PPI and banking.”
Almost two thirds of the complaints it received in the first six months of this year came from just 10 businesses the majority of which are banks.
PPI continued to be the most complained about product with almost 90,000 complaints – making up over half of all complaints to its service. Last year the ombudsman said PPI complaints accounted for half of its workload. However, a slight fall in PPI complaints was recorded in the first half of 2017.
The average uphold rate (where the ombudsman found in the consumer’s favour) for all businesses over the six-month period was 36% – and ranges from 3% to 79% across the individual businesses.
Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, commented: “We’ve seen more complaints about most types of financial products in the first half of 2017.”PPI
Looking ahead, Wayman predicted that the Ombudsman would see an increase in PPI complaints due to the Arnold Schwarzenegger frontedFinancial Conduct Authority (FCA) ad campaign.
She stated: “The FCA has just launched its communications campaign, which highlights that consumers have until August 2019 to make a complaint about mis-sold PPI. While we still don’t know what impact this will have on our workload, today’s data shows that PPI complaints are already increasing.”This article is care of www.insuranceage.co.uk and the original article can be found here.
