Ombudsman releases latest PPI complaints data

by GuestBlogger on September 11, 2012

The Financial Ombudsman Service has released its latest set of six-monthly complaints data relating to individual financial businesses – including banks, insurance companies and investment firms.

Over the period, the ombudsman service received 135,170 new complaints – up 27% on the previous six months. Around 91% of the cases came from 169 financial businesses (out of the 100,000 businesses currently covered by the ombudsman).

Complaints about payment protection insurance (PPI) claims made up 63% of the total complaints received by the ombudsman during the first half of 2012 – with 85,562 new PPI complaints (compared to 49,419 in the last half of 2011). Five banking groups accounted for 71% of all the new PPI cases received between 1st January and 30th June 2012, says the ombudsman service.

In total the number of new complaints about each of the individual businesses ranged from 31 to 23,703. Five banking groups had more than 8,000 complaints each referred to the ombudsman service, together accounting for 80,235 cases – almost 60% of all new complaints in this six-month period.

“The volume of PPI complaints doubled in the first half of 2012 – and has continued to increase since then with up to 1,500 new cases now arriving each day,” said Natalie Ceeney, chief executive and chief ombudsman, commenting on the new statistics.

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