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GI complaints rise further, FOS says

General insurance matters accounted for about one-third of disputes considered by the Financial Ombudsman Service in the June quarter, as the number of complaints continues to rise.

FOS says it received 9401 disputes overall, up 9% on the preceding quarter and up 22% on the corresponding period last year, with gains recorded across all sectors.

Some 2839 general insurance disputes were received, accounting for 30.1% of the total, with 34.1% of the disputes accepted.

In the March quarter 2709 general insurance disputes, or 31.3% of the total, were received.

Credit issues led the way in the June quarter, representing 42% of disputes received, while third-ranked deposit-taking problems accounted for 9.6%.

FOS also receives complaints related to payment systems, investments, life insurance and traditional trustee services. Its latest bulletin says 63% of closed disputes were resolved through an agreement between the financial services provider and the consumer.