Welcome to the latest edition of Ombudsman News. In this edition we share our strategic measures update which outlines our performance in 2021/22 and the results from our temporary outcome codes initiative. We also highlight our online resource for consumers and for financial businesses about our approach to vehicle breakdown cover complaints.
See our previous editions of Ombudsman News.
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Last year we set ourselves ambitious targets, to develop and evolve our service, prevent complaints and unfairness arising, and to build an organisation with the capabilities it needs for the future. We’ve recently published our strategic measures update, which sets out how we performed in the last financial year, against the targets we set and the challenges we faced.
The Financial Ombudsman Service published the results of a temporary outcome codes initiative launched in November 2021 aimed at encouraging businesses to proactively settle complaints more quickly. The work by the Financial Ombudsman and more than 90 businesses resulted in 6,800 cases being settled and redress secured for customers of up to £22 million. This included more than £10 million in “authorised” scam complaints, with over 2,000 victims being refunded the money they had lost.
You can find out more about the results in our latest news story on our website, or to find out more about the initiative – read our blog.
Breakdown cover (sometimes called ‘roadside assistance’) is normally provided as an insurance policy and provides help if your vehicle breaks down. We typically see complaints from consumers who tells us their breakdown cover was renewed when they no longer wanted it, or that their unhappy with the services the insurer provided.
We have information on our website for consumers and for financial businesses about our approach to dealing with complaints like this and examples of what we have said in cases we resolved.
20 September 2023
Welcome to the latest edition of Ombudsman News. In this edition we highlight our latest data, covering complaints about financial products and services between April and June 2023. We also share the progress of our extended trial to proactively settle complaints and tell you about the roles we’re recruiting for.
10 August 2023
Welcome to the latest edition of Ombudsman News. In this edition we highlight our recent blog on Section 75 and chargeback complaints, our updated guidance for financial businesses on bank account closures and a reminder of the Consumer Duty. You can also read about the help our Business Support Hub can provide.
2 December 2022
Welcome to the latest edition of Ombudsman News. In this edition we highlight our recent motor insurance event for insurers and brokers and our blog about issues we’re seeing in vehicle theft claims. We also share our Annual Report and Accounts for 2021/22 and our Future Funding Feedback Statement.
