FOS publishes budget - Insurance Age

Insurance Age staff
01 Feb 2006

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The Financial Ombudsman Service (FOS) has published its budget for the next financial year for consultation, together with its corporate plan for the next three years. The budget showed the continued impact of mortgage endowment complaints on the FOS. Following a five year period during which the number of complaints to the ombudsman increased more than fourfold and the service more than tripled in size. The average cost of resolving a dispute is estimated at £472 for 2006/07.

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