FOS consulting on near doubling of levy

coins-parabola

Ombudsman looking for 28% increase in income for 2019/20.

The Financial Ombudsman Service (FOS) has opened a consultation on increasing its income for 2019/20 to £296.2m.

This represents a 27.5% rise on the £232.3m income budget for the current financial year.

The FOS noted that it was forecasting a 13% increase in new complaints next year to 460,000.

Deficit
Complaints about payment protection insurance (PPI) are predicted to leap by 25% to 250,000 with insurance excluding PPI tipped to rise by 3% to 41,000.

The Ombudsman stated that it would run

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Markerstudy rebrands broking arm

Markerstudy Broking has been renamed to Markerstudy Distribution to encapsulate the range of products and services across the whole division, the business has confirmed.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: