General Insurance Article - FSA says customer complaints up driven by PPI


 The Financial Services Authority (FSA) has published the latest data showing that complaints to financial services firms increased by 59%-largely driven by PPI.

 The main trends are:
 -Complaints about general insurance and pure protection increased by 99% to 2,541,430;
 -Within this product group, payment protection insurance accounted for 2,232,294 of those complaints, an increase of 129%;

 The data is presented in two different forms, aggregate data showing overall complaints statistics for the industry, and firm-level data showing figures for individual firms.

 The firm-specific complaints data is a summary of the information reported to the FSA by financial institutions, and includes only those that have reported 500 or more complaints in a six-monthly reporting period. These firms are also required to publish the data on their own websites.
  

Back to Index


Similar News to this Story

Call for simplification of EU cybersecurity regulation
Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporti
7 California wildfire lessons learnt for European insurers
The devastating January 2025 wildfires in Los Angeles, which destroyed over 16 000 structures and caused insured losses of approximately USD 40 billio
Do not be left high and dry this summer
Aviva is urging caution as data reveals a correlation between warm weather and fire claims. Number of garden fire claims is already significantly high

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.