Fall in FOS complaints continues in H1 2022

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The Financial Ombudsman Service (FOS) has published the number of complaints it received about individual businesses in the first half of 2022. These show that a fall in complaint numbers has continued from those of H1 2021.

FOS received 72,978 complaints in H1 2022, compared with 73,163 in H2 2021 and 130,105 in H1 2021.

The 2022 complaints related to 212 organisations, doing business in a number of sectors such as banking & credit, general insurance & protection and life & pensions. The Ombudsman reported that it upheld 37% of the complaints received.

James Burgoyne, Divisional Director – Claims & Technical, Brunel Professions said: “Professional Indemnity insurers look carefully at the level of complaints received by advisers when they quote to provide insurance.  Firms with poor complaint records will find it harder and more expensive to secure cover.

This is why it is so important for firms to have resilient risk management processes and procedures in place to reduce the risk of complaints.  They can then ensure that potential issues are identified and dealt with early before they become a formal complaint.”

Reports on the data have been published by FTAdviser and Norton Rose Fulbright. The FOS’s publication of the data can be found in a press release and the claims data on its website.

ProfessionalIndemnity.com is owned by Brunel Professions, which is a leading professional indemnity insurance broker in the UK.  Click here to get a quote or call 0345 450 1074 to speak to a broker.