Context
The Financial Ombudsman Service (FOS) has published its latest edition of Ombudsman News. In this edition they have shared an overview of latest complaints data, including detail on some of the trends seen in the first quarter of the 2021/22 financial year.
Key points to note
This Ombudsman News includes:
- Complaints data for April to June 2021. Overall, 50,906 complaints were received in the first three months of the 2021/22 financial year.
- Fraud and scams complaints increase 66% year-on-year
- High numbers of complaints about Current Accounts, credit cards and car insurance
- Car insurance in the first quarter of the current FOS financial year:
- 4th highest number of new cases by product type in the most recently published quarterly complaints data – up from 7th in the previous quarter;
- 2427 new cases – down from 3027 in the previous quarter;
- 4.75% of all new cases – up from 3.85% in the previous quarter;
- 413 referred to an Ombudsman – down from 508 in the previous quarter;
- an overall uphold rate of only 27%, which was the same as the previous quarter
- Figures for complaints about individual businesses January to June 2021
- Figures for complaints about claims management companies
Next actions
None – for information and awareness