The Financial Services Ombudsman, William Prasifka, has
published his office's latest bi-annual review, covering the
period from July to December 2012. The review reveals record
numbers of complaints being made to the Ombudsman as the effects of
the financial crisis continue to be felt. In particular, there were
an increased number of complaints relating to payment protection
insurance in 2012.
Insurance-related complaints have consistently accounted for
approximately half of all complaints received by the Ombudsman in
recent years. 4,064 insurance-related complaints were received in
2012, representing an 18% increase from 2011. Of these, payment
protection insurance complaints were the most common, accounting
for 32% of all insurance-related complaints, followed by motor
insurance complaints at 12% and life insurance at 11%. The
mis-selling of products was the most common source of
insurance-related complaints, accounting for 33% of all such
complaints in 2012,
