The UK Financial Ombudsman Service (FOS) will report complaints relating to payment protection insurance (PPI) separately to general insurance complaints from September.

In its latest circular, FOS revealed that PPI complaints, which involved the mis-selling of PPI by credit brokers, have quadrupled in the past year with 56,025 new PPI cases in the quarter ended June 30 compared to 13,520 new PPI cases in the quarter ending June last year.

FOS says the move, which will also list individual named businesses, will “show the impact that PPI is having... at a business-by-business level”.

The massive rise in PPI complaints has driven up brokers’ contributions to the UK Financial Services Compensation Scheme in the past few years, as credit brokers and general insurance brokers are grouped in the same funding pool.