Payment Protection Insurance Complaints

Published / Last Updated on 08/11/2010

by Ashley Clark, Director

Payment Protection Insurance (PPI) complaints are high and continue to be the highest complaint area dealt with by the Financial Ombudsman Service (FOS).

Figures published by the FOS show the most frequent complaints as follows:

PPI 45% of complaints
Current Accounts 11% of complaints
Credit cards 10% of complaints
Mortgages 4% of complaints
Loans and overdrafts 3% of complaints
Bank and Building Society Deposit Accounts 3% of complaints
Motor Insurance 3% of complaints

PPI continues to dominate the complaints arena with the Financial Services Authority already having banned the sale of single premium PPI cases.

What happens when an estimated 0.5 million to 1.6 million people (according to the CIPD) lose there jobs next year and have cancelled their insurance protection. Will we all then start complaints against the Complaints firms?

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