Financial Ombudsman Service

Insurers need to keep clearer records to aid in potential claims disputes following the introduction of the Consumer Insurance Act, according to industry observers.

Independent financial advisers as likely to claim as PPI claims management companies to the Financial Ombudsman Service

Networks Openwork and Sesame saw complaints against them at the Financial Ombudsman Service (FOS) rise in the second half of last year, with Sesame receiving over 90% more claims.

The number of complaints sent to the Financial Ombudsman Service (FOS) doubled in the last six months compared to the previous half year period, with Lloyds topping the list of shame.

The Financial Ombudsman Service (FOS) is currently upholding about 47% of all complaints, according to the FOS' own figures.

The Financial Ombudsman Service (FOS) is set to ask the Financial Services Authority (FSA) to increase the amount it levies firms by £5.3m to £23m.

The Financial Ombudsman Service (FOS) will change the wording on its rulings to say that consumers who it has awarded compensation to can also pursue a legal case for redress following a High Court decision last week.

Financial Ombudsman Service (FOS) chief executive Natalie Ceeney has praised independent financial advisers for their complaints handling, saying they do a better job than larger businesses such as banks.

Complaints to the Financial Ombudsman Service about payment protection insurance increased year on year by 51%, and accounted for 60% of all new cases in 2011/2012.

The proportion of complaints referred to the Financial Ombudsman Service (FOS) relating to independent financial advisers (IFAs) is continuing to fall.