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FOS reports spike in general insurance disputes

The number of general insurance disputes received by the Financial Ombudsman Service (FOS) grew 21.5% to 3291 in the first quarter.

Total disputes in the quarter increased 18% compared with the corresponding period last year to 10143, FOS says in its latest circular.

The rise occurred across all financial product lines, including life insurance and investments and advice.

Credit-related disputes topped the list with 4090 complaints, or 40.2%, but general insurance was the second-biggest source of complaints, accounting for 32.3% in the first quarter.

FOS accepted 36.9% of the general insurance disputes received.