Jan
12
2011
Umbrella company contractors told 'FOS to resolve fewer cases'
Posted by Daniel Frost
The number of payment protection insurance (PPI) cases which the Financial Ombudsman Service (FOS) expects to solve in 2010/11 has dropped, company umbrella contractors have been told.
An unexpected surge in the number of mis-sold PPI complaints that the mediator has received has been given as the reason behind this decision.
Instead of the 46,000 cases which the FOS had budgeted for, the volume of issues surrounding this controversial insurance is now forecasted to top 68,000 for 2010/11.
Due to this rise, the ombudsman has had to reduce its predicted number of solved cases from 210,000 to 180,000 – a fall of almost 15 per cent.
"This shift across the board to complaints being much harder fought on both sides, with a higher proportion requiring a formal decision by an ombudsman, is a key feature we have seen recently and we expect that to continue," a FOS spokesman commented.
In the three months leading up to the end of October, 45 per cent of the FOS' workforce was handling complaints about mis-sold PPI, according to the BBC.
The number of payment protection insurance (PPI) cases which the Financial Ombudsman Service (FOS) expects to solve in 2010/11 has dropped, company umbrella contractors have been told.
An unexpected surge in the number of mis-sold PPI complaints that the mediator has received has been given as the reason behind this decision.
Instead of the 46,000 cases which the FOS had budgeted for, the volume of issues surrounding this controversial insurance is now forecasted to top 68,000 for 2010/11.
Due to this rise, the ombudsman has had to reduce its predicted number of solved cases from 210,000 to 180,000 – a fall of almost 15 per cent.
"This shift across the board to complaints being much harder fought on both sides, with a higher proportion requiring a formal decision by an ombudsman, is a key feature we have seen recently and we expect that to continue," a FOS spokesman commented.
In the three months leading up to the end of October, 45 per cent of the FOS' workforce was handling complaints about mis-sold PPI, according to the BBC.