Organisation proposes funding overhaul as it expects to become smaller organisation after the 29 August deadline for PPI complaints.
The figure is a 2% increase on last year’s with £29m to come from general insurance mediation.
The service has been designed to help brokers assist clients when claims are refused.
Ian Mason, of Gowling WLG, considers the impact of the compensation limit increase to £350,000.
The change will see the limit go up from £150,000 from 1 April and could keep going up annually.
Regulator clarifies rules around Gibraltar-based firms.
Ombudsman looking for 28% increase in income for 2019/20.
As we moved into spring brokers were interested in the names of the top five most complained about insurers, Axa inking a $15bn deal with XL, the collapse of CBL and Alpha as well as mergers and acquisitions.
Larksway Investments was stopped from providing insurance broking services in September 2017.
The watchdog has published a set of proposals to prepare for the possibility of leaving the EU without an implementation period.
Ann Peel poses the question as more SMEs will be able to complain to the Ombudsman.
Regulator also consulting on raising maximum compensation limit to £350,000.
Test your knowledge of the week's news with our topical quiz.
Ombudsman gives update after highlighting growth in “black box” complaints in annual review.
But organisation warns over loyalty and telematics complaints.
The regulator spoke at a panel session on how customers are at the heart of the broker business at the Biba conference.
Spoiler alert – this blog contains statistics.
Total number of new general insurance complaints fell by 16% in second half of 2017.
Consultation runs until April with rules set to be announced this summer.
Two-year campaign encourages customers to act before complaints deadline in August 2019.
Insurance complaints, Ogden and acquisitions all hit the headlines and made up your top five stories this week.
Figures from the Financial Ombudsman also put Aviva, Ageas, Axa and RSA into the top five most complained about providers.
However first quarter saw rise in enquiries.
The ombudsman opened 36,065 new PPI cases between October and December last year.