Financial Ombudsman Service (FOS)
Mobile phone insurance: We've got your number
Mobile phone insurance is a high-frequency claims product but has been criticised by the ombudsman and consumer groups. Ralph Savage reviews the sector to discover if this niche is offering value for money.
Payment protection insurance: Crossroads for PPI
Three months ago the High Court rejected the British Bankers' Association's attempts to challenge new payment protection insurance regulations. With the controversial product already battling reputational issues, Tim Pope looks at the future of the PPI…
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers has presented research to the All Party Parliamentary Group on Insurance and Financial Services showing that brokers with an income of £500 000, £1m or £5m have seen their Financial Services Compensation Scheme fees…
Tackling fraud - Roundtable: The time for action is now
With new counter-fraud tools coming onstream, Post gathered a group of experts to assess whether these will be enough to outweigh expected reductions in police resource when fighting this crime. Chinwe Akomah reports.
Household - Flood risk: Removing the safety net
In two years, the insurance industry's pact with central government to provide flood cover for at-risk properties will cease to exist. Ralph Savage reports on how insurers are planning to meet the challenge post-2013.
Consumer insurance reforms will make it harder to turn down claims
The first changes to consumer insurance legislation in more than a century will prevent insurers from "hiding behind" unrelated errors to avoid paying claims.
PPI complaints more than double to 51%
The Financial Ombudsman Service annual review has revealed that 51% of new cases were about the sale of payment protection insurance with the number more than doubling to 104 597 - the highest number ever received in a year about a single financial…
Lloyds Banking Group reports huge £3.2bn Q1 losses after PPI provision
Part-nationalised Lloyds Banking Group has recorded a statutory loss after tax of £3.47bn for Q1 2011 (Q1 2010: £721m), after the bank made provisions of £3.2bn for payment protection insurance payout costs.
Postbox: Winning the battle for hearts and minds
It was really interesting to read the archived Post article highlighting comment made 50 years ago by Noel Hickey, chairman of the Galway Centre of the Insurance Institute of Ireland, on how the insurance industry was failing to gain consumer and media…
Postbox: PPI rule change — a long time coming
News that the Competition Commission has published its final order detailing measures that will reduce the risk of consumers being mis-sold payment protection insurance, and create opportunities for other providers, is to be welcomed. But it's…
View from the top: mind the gap please
As a regular London underground commuter I am frequently reminded of the gap in expectations that yawns between me as a paying customer and the so-called service delivery provided by the management of our capital's public transport infrastructure.
Co-op to increase aggregator usage
Co-operative Insurance has set its sights on growing its household book by widening its use of aggregators as a means of distribution.
ABI disappointed with FOS decision
The Association of British Insurers has said it is “disappointed” at the Financial Ombudsman Service’s decision to increase its levy on firms.
Household: can no claims discounts be applied to household insurance?
With Axa set to offer no claims discounts to household customers, Amy Ellis reports on market reaction and whether others will follow suit.
Editor's comment: No-claims discount: is it a goer in household?
This was the question posed by Axa finance director Jean Drouffe in last week's Post, and follows a number of recent musings by those in the general insurance market about how to counteract the growth in household claims due to events that can be linked…
Escape of water claims: Trickle becoming a torrent
Escape of water now represents the same proportion of household claims as personal injury does for motor. Kevin Kiernan looks at this growing trend and how it can be addressed.
Financial ombudsman reveals sharp rise in PPI complaints
The Financial Ombudsman Service has revealed that payment protection insurance complaints rose to 24 955 for the period October to December 2010, up 17% from the previous three months.
Claims Club news: Ombudsman relying on third parties as caseload increases
The Financial Ombudsman Service is making increasing use of outsourcing as it battles to keep up with the volume of cases it has to deal with, especially in the payment protection sector.
APPG - 20 years in force: Representation for the industry
With its 20th anniversary just passed, David Worsfold looks at the success of the All Party Parliamentary Group on Insurance & Financial Services, detailing some key highlights from two decades of debate.
Claims Club news: FOS links lack of speed to training
The Financial Ombudsman has admitted that more works needs to be done to speed up cases to conclusion, once adjudication has been challenged.
Assurant latest to target PPI market
Assurant Solutions has unveiled two new payment protection insurance products that will be underwritten at the point of sale.
Ombudsman proposes £15m budget hike as PPI claims stack up
The Financial Ombudsman Service today published its public consultation on its proposed budget for the next financial year (2011/2012).
Ruling clarifies 'double jeopardy' threats
A recent High Court ruling that will mean fewer claims reach the Financial Ombudsman Service could spell good news for insurers, according to a law firm.