31st March 2020

The Financial Ombudsman Service (FOS) has created a page on its website to support firms’ understanding of its position in relation to complaints raised that are related to Coronavirus (Covid-19) and financial services. Focus is given to complaints related to travel, weddings and business interruption. Members may access the webpage by clicking here.

Following BIBA’s discussions with the FOS, where members receive complaints that express dissatisfaction with the insurance industry generally, we have been advised that the general principles of dealing with any complaint still apply.

Questions that members may wish to consider using to determine whether the complaint should be handled by the firm or by the insurer include:

  • What is the specific issue that the customer is complaining about?
  • Who is responsible – is the issue to do with the sale (broker-related) or the underwriting criteria/cover (insurer-related)?
  • If the issue is to do with the sale (eg a significant limitation or exclusion was not highlighted) – was it an advised sale?
  • If the complaint relates to a decision that has been made – who made that decision?

The above questions are non-exhaustive and members may consider further questions of their own to get to the crux of the complaint.

The FOS has also created a page specifically for consumer queries which can be accessed by clicking here

BIBA members’ compliance and regulation queries should be directed to: [email protected]

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