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A total of 776 complaints were lodged with the financial ombudsman about PPI between April and June 2014, compared with 606 in the same period last year.
They ranged from a customer receiving incorrect information about the level of PPI on a mortgage agreement, to a provider failing to provide the appropriate cover to a customer. Some people were also incorrectly advised that they were buying PPI when they were not.
“The findings of this research highlight a huge problem in the way that providers manage and deliver products to customers.” Mr Dodd said.
“Too often people aren’t getting what they want, or the services they have been promised.
“It is also very worrying that most of these complaints are repeat ones, in which the customers were unable to resolve them. That tells us that many people are either not getting the help they need, or they have been very badly let down.”
Mr Dodd added that the Financial Ombudsman Service is very concerned about the high level of PPI complaints. It is urging PPI providers to review their complaints handling processes to ensure people get the help and support they are entitled to.
The FOS will continue to take action to ensure PPI is appropriately used in financial services contracts.
A total of 776 complaints were lodged with the financial ombudsman about PPI between April and June 2014, compared with 606 in the same period last year.
They ranged from a customer receiving incorrect information about the level of PPI on a mortgage agreement, to a provider failing to provide the appropriate cover to a customer. Some people were also incorrectly advised that they were buying PPI when they were not.
“The findings of this research highlight a huge problem in the way that providers manage and deliver products to customers.
“Too often people aren’t getting what they want, or the services they have been promised.
“It is also very worrying that most of these complaints are repeat ones, in which the customers were unable to resolve them. That tells us that many people are either not getting the help they need, or they have been very badly let down.
“The FOS will continue to take action to ensure PPI is appropriately used in financial services contracts.”
Andy Dodd
Ipsoregulated
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