More complaints have been recorded this year so far from small businesses to the Financial Ombudsman (FOS) than the whole of the last financial year.
3,500 complaints were related to the impact of Covid-19 and nearly a quarter of those complaints were those that had travel plans disrupted with insurers declining travel insurance claims.
200 complaints were also received from consumers that had requested refunds from banks for cancelled holidays, concerts, and sports fixtures under the Section 75 of the Consumer Credit Act 1974.
Caroline Wayman, Chief Ombudsman and Chief Executive at the FOS said: “Peoples finances and lives have been impacted by Covid-19 and whilst measures are in place to control the virus, people have been contacting us that are unhappy with how their financial providers had been treating them. We understand businesses have also been affected and their ability to process complaints and claims have been impacted, but we urge them to continue to ensure they are treating their customers fairly”.
We are living in unpredecented times.