FOS general insurance disputes rise
The number of general insurance disputes received by the Financial Ombudsman Service (FOS) edged higher in the June quarter, according to its latest statistical report.
There were 3372 such disputes, accounting for 33.2% of the total received, and up from 3291 in the first quarter.
Credit disputes represented 39.2% of the overall number.
FOS says overall dispute numbers grew to 10,115 from 10,087 in the March quarter, and were up 8% compared with a year earlier.
The ombudsman accepted 2091 general insurance disputes, from a total of 5607 accepted across all product lines.
The number of disputes closed across all lines jumped to 10,496, the highest quarterly total in the past two years.
Most issues are resolved through an agreement between the financial services provider and the consumer, while 13% last quarter were outside FOS’ jurisdiction and 11% ended when applicants decided against pursuing the matter.