FOS PPI complaint questionnaire

edited 1 October 2009 at 8:00AM in Reclaim PPI & Other Insurance
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dunstonhdunstonh Forumite
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edited 1 October 2009 at 8:00AM in Reclaim PPI & Other Insurance
Excuse the formatting as it was pulled from an article just released by money marketing......

The Financial Ombudsman Service is developing a PPI complaint questionnaire for firms to administer to complainants.
RS=B09807_10001.B09807_10002.B09807_10062.
The questionnaire, to be developed during the FSA’s consultation period into the assessment and redress of PPI complaints, will help ensure that relevant evidence is provided to firms by consumers complaining about their policy. The consultation paper says: “During the consultation period the FOS will develop a standardised PPI complaint questionnaire for firms to administer to complainants. This will help ensure that relevant evidence is provided to firms by consumers and to consumers by firms, thereby improving firms’ assessment and decisions, as well as helping to ensure that proper investigation of complaints is carried out before any referral to the FOS.”

The FSA says it also hopes the questionnaire will make PPI claims chasers work harder for claimants.

The paper says: “Claims management companies offer to help consumers pursue their complaints with financial services firms and the FOS. In return, the consumer has to pay the company a fee, usually a fixed share of any redress awarded for an upheld complaint.

“The design of a PPI complaint questionnaire will ensure both CMCs and firms do the necessary leg work in setting out and looking into the details of the case, avoiding generic complaints and generic rejections respectively.”
The FSA says the equivalent mortgage endowment questionnaire worked well to this effect.

reading between the lines it looks like it is being designed to resolve two issues. Those putting in false claims, mainly driven by claims companies and to prevent firms from rejecting what could be totally valid complaints.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

Replies

  • dunstonh wrote: »
    Excuse the formatting as it was pulled from an article just released by money marketing......

    The Financial Ombudsman Service is developing a PPI complaint questionnaire for firms to administer to complainants.
    RS=B09807_10001.B09807_10002.B09807_10062.
    The questionnaire, to be developed during the FSA’s consultation period into the assessment and redress of PPI complaints, will help ensure that relevant evidence is provided to firms by consumers complaining about their policy. The consultation paper says: “During the consultation period the FOS will develop a standardised PPI complaint questionnaire for firms to administer to complainants. This will help ensure that relevant evidence is provided to firms by consumers and to consumers by firms, thereby improving firms’ assessment and decisions, as well as helping to ensure that proper investigation of complaints is carried out before any referral to the FOS.”

    The FSA says it also hopes the questionnaire will make PPI claims chasers work harder for claimants.

    The paper says: “Claims management companies offer to help consumers pursue their complaints with financial services firms and the FOS. In return, the consumer has to pay the company a fee, usually a fixed share of any redress awarded for an upheld complaint.

    “The design of a PPI complaint questionnaire will ensure both CMCs and firms do the necessary leg work in setting out and looking into the details of the case, avoiding generic complaints and generic rejections respectively.”
    The FSA says the equivalent mortgage endowment questionnaire worked well to this effect.

    reading between the lines it looks like it is being designed to resolve two issues. Those putting in false claims, mainly driven by claims companies and to prevent firms from rejecting what could be totally valid complaints.
    Can't be a bad thing then. Thanks for this,:beer:
  • di3004di3004 Forumite
    42.6K Posts
    Interesting, thanks for posting this Dunstonh.:T;):beer:
    The one and only "Dizzy Di" :D
  • maxdpmaxdp Forumite
    3.9K Posts
    Thanks for that info Dunstonh
    :mad:
  • dunstonhdunstonh Forumite
    106.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    Dont know what happened to the title of the thread. It was longer than that! Edited it to reflect subject.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
This discussion has been closed.
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