Record number of complaints to Ombudsman as PPI continues to dominate
The Financial Ombudsman Service has received a record number of complaints for the fifth year in a row as complaints about the selling of payment protection insurance (PPI) continue to pour in.
For the year ended 31 March 2012, the Ombudsman received 264,375 complaints, up from 206,121 the previous year.
Of these complaints, 157,716 were associated with PPI (60% of all new claims) and although the rate of increase in PPI complaints has cooled, it still increased by 51% on 2011.
Complaints about the miss-selling of PPI now make up 25% of the 1.43 million complaints received by the Ombudsman since it was set up in 2000.
It appears that claims management companies are also the source of
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
Aviva responds to Direct Line’s £10.6m fine
Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.
PRA fines Direct Line underwriter £10.6m
The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.
Chris Knight succeeds Brewis as FCA insurance director
The Financial Conduct Authority has recruited Chris Knight to take on the director of insurance role within its supervision, policy and competition division starting July 2026.
FCA way off target on insurance new firm authorisation service
New data and goals from the Financial Conduct Authority have revealed the regulator is far behind the target for authorising new insurance firms, with the level of service squarely in the red zone at 81.8%.
FCA sets four targets in its inaugural regulatory priorities report
The Financial Conduct Authority has issued its first regulatory priorities report for insurance as it switches away from penning portfolio letters.
Broker Diversity Push: FOI stats show subtle improvements in broking leadership gender balance
The latest data from the Financial Conduct Authority obtained by Insurance Age via a Freedom of Information request has shown small improvements in five out of six key SMF approved functions.
Further increase in FCA insurance S166s
The Financial Conduct Authority hit the insurance sector with three skilled person reports in the third quarter, taking the running total for the financial year to six.
The most significant pressures reshaping UK insurance broking in 2026
With the UK’s top insurance brokers facing shifting market conditions, there is no better time to reassess the commercial, regulatory, and technological pressures shaping the sector. PKF Littlejohn insurance partner Paul Goldwin and director Charles Drew consider the areas of focus and the importance of discipline to position firms for the year ahead.