FOS upholds 80% of single premium PPI complaints
by Gill Montia
Story link: FOS upholds 80% of single premium PPI complaints
Changing economic circumstances could result in an increase in claims for Payment Protection Insurance (PPI) during 2008, and while a rise in redundancies would almost certainly reveal further instances of mis-selling there is good news from the Financial Ombusdman Service (FOS).
Emma Parker, spokesperson for the FOS, states: “We received a record 970 cases in December […]
Ombudsman To Investigate 4,000 PPI Claims This Year
by Stewart Douglas
Story link: Ombudsman To Investigate 4,000 PPI Claims This Year
The Financial Ombudsman has today announced that it is continuing to investigate some 4,000 claims of mis-sold payment protection insurance despite moves made to clamp down on rogue selling of incomplete and inadequate cover to consumers.
The announcement follows an ongoing battle by the Financial Services Authority to eradicate unscrupulous policy sellers and to clear up […]
Ombudsman warns against fronting
by Gill Montia
Story link: Ombudsman warns against fronting
The Financial Ombudsman Service is warning motorists that the insurance industry is currently rejecting thousand of claims because of a form of fraud known in the industry as “fronting”.
A common example of “fronting” would be when a young driver has a car but falsely informs his or her insurance company that a parent is the […]
CII President to review Ombudsman Service
by Gill Montia
Story link: CII President to review Ombudsman Service
The president of the Chartered Insurance Institute, Lord Hunt of Wirral, is to lead an independent review of the Financial Ombudsman Service (FOS).
The review will consider the openness and accessibility of the service to its customers and stakeholders.
It forms part of a programme under which the FOS board invites external scrutiny by way of three-yearly […]
