On this page we publish formal exchanges of correspondence with other organisations that are topical or of general interest.
On this page
- The handling of complaints during Covid-19 (coronavirus)
- Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme
- Covid-19: Letter to insurance companies about business interruption insurance
- Amigo Loans scheme of arrangement: creditor vote
- Our expectations of business and professional representatives
The handling of complaints during Covid-19 (coronavirus)
In April 2020 we exchanged letters with the FCA to help provide additional clarity for firms on our approach to assessing complaints relating to the range of targeted temporary measures introduced by the FCA to help consumers during the pandemic.
In November 2020 we exchanged letters with the FCA about the FCA’s further temporary measures, and our approach to assessing complaints.
Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme
Covid-19: Letter to insurance companies about business interruption insurance
In May 2020 we wrote to major insurers setting out the implications of the FCA's legal action on our handling of business interruption insurance (BII) complaints. We also invited insurers to share information about the broad range of policies sold, as well as evidence of how they are considering claims. We continue to engage with a range of stakeholders on this issue, including those representing SMEs. Read more about BII in our information for financial businesses.
Amigo Loans scheme of arrangement: creditor vote
As one of the creditors under Amigo Loans’ proposed scheme of arrangement, the Financial Ombudsman Service was invited to vote on the scheme. We voted to approve it. This vote was made in our capacity as a scheme creditor. It should not be interpreted as reflecting the Ombudsman Service’s view on the fairness of the scheme or whether it provides appropriate consumer protection. A letter explaining our vote and the reasons for it in more detail was submitted to Amigo and the Court in May 2021.
Whether the scheme is fair in relation to the consumers who are Scheme Creditors is ultimately a matter for the Court. We understand that the FCA, as Amigo’s regulator, has also considered the fairness of the scheme and whether it secures an appropriate degree of consumer protection – find more information about the FCA’s role in proposed schemes of arrangement on their website.
This vote does not set any precedent in relation to the Ombudsman Service’s position on future schemes, which will be considered on their individual merits.
Our expectations of business and professional representatives
In July 2023, we wrote to businesses and professional representatives about how they can help us resolve disputes for their customers more quickly and efficiently. We wanted them to have a clear understanding of our expectations going forward as we increased the pace of what we do, while maintaining quality.