Complaints up at Financial Ombudsman Service for 2015/16
FOS reveals level of complaints upheld in different insurance business lines.
The Financial Ombudsman Service (FOS) has reported that it received 340,899 new complaints in the year from 1 April 2015 to 31 March 2016, up from 329,509 in the previous 12 months.
During the period it answered 1,631,955 enquiries from consumers with one in five initial enquiries turning into a formal dispute.
Payment protection insurance (PPI) made up just over half of the ombudsman's workload with 188,712 new cases in total.
Small businesses
The FOS also revealed that small businesses, which
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