Consultation on compensation interest levels launched by the Financial Ombudsman Service
4 June 2025
Today we opened a consultation on the interest rate applied to the compensation awarded to consumers.
Chief ombudsman & chief executive, Caroline Wayman, attended the ABI annual conference yesterday to take part in a panel discussion on the strategic and reputational challenges for insurance and long-term savings in 2021.
The panel discussed the role insurance and long-term savings providers can play in addressing the strategic challenges facing the UK economy as it recovers from the social and economic impacts of the Covid-19 pandemic.
As part of the discussion, Caroline spoke about some of the challenges consumers and businesses have faced during the pandemic, and the complaints we’re seeing. She also spoke about the importance of clarity and transparency for insurance policies and the need to ensure customers have a clear understanding what they’re covered for.
You can find more information about complaints resulting from Covid-19 and the impact on consumers and SMEs in the links below.
4 June 2025
Today we opened a consultation on the interest rate applied to the compensation awarded to consumers.
22 May 2025
We have raised more than £30,000 for Sands, the UK’s leading pregnancy and baby loss charity – hitting our two-year fundraising target in just 12 months.
6 May 2025
Data published today shows how many complaints we received about financial businesses in the second half of 2024.