2017年-FCA英国金融行为监管局_commentary_complaints_2011_h2_5页_163kb

2011 H2 Aggregate Complaints Data Summary

Core Content

The 2011 H2 aggregate complaints data shows an overall increase in the number of complaints, with the total rising by 21% to 2,256,172. This increase is primarily attributed to a significant rise in complaints related to 'general insurance and pure protection', which increased by 49% to 1,280,940. Among these, PPI complaints saw the most dramatic increase, up by 85% to 977,510.

Main Views and Key Information

1. Complaints by Product Group

• Banking complaints reached their lowest level since 2006 H2 at 787,096, a 2% decrease from the previous half year and a 13% decrease from the same period in 2010.
  • Current accounts complaints decreased by 6%.
  • Savings and other banking products complaints decreased by 12%.
  • Credit cards and unregulated loans complaints increased.
• Decumulation, life and pensions products, and investments saw small reductions in complaint volumes.
  • Endowments complaints fell by 6%.
  • Investment bonds complaints fell by 12%.

2. PPI Complaints and Redress

• PPI complaints to banks and building societies increased by 29% to 1,660,578.
• 'Advising, selling and arranging' complaints increased by 69% to 1,093,684, with 92% of these related to general insurance and pure protection.
• Closed complaints increased by 55% to 2,429,166, driven mainly by the closure of 1,440,441 general insurance and pure protection complaints.
• Upheld complaints rose from 51% in 2011 H1 to 60% in 2011 H2, largely due to the increase in upheld general insurance and pure protection complaints from 53% to 69%.
• Redress paid increased from £411m in 2011 H1 to £2,250m in 2011 H2, with a significant portion of this increase related to PPI redress. This was influenced by firms resolving PPI complaints that were on hold during the judicial review in H1 2011.

3. Context and Reporting Changes

• The FSA publishes complaints data every six months, covering the period from 2006 to 2011.
• The data is divided into three main areas:
  • Volume of complaints by product, firm type, and cause.
  • Complaints-handling metrics, including resolution time and upheld complaints.
  • Redress paid, which only includes cases with a readily identifiable cash value and excludes non-monetary redress or redress not related to complaints.
• In October 2010, the British Bankers' Association challenged the FSA's PPI complaint handling measures, which were rejected by the High Court on 20 April 2011. During this time, firms placed many PPI complaints on hold.
• In August 2011, the FSA began publishing separate figures for PPI complaints, highlighting the distinction between PPI-specific data and broader 'general insurance and pure protection' data.
• Complaints-handling data for PPI is reported monthly, while aggregate complaints data is for six-month periods, making direct comparisons between the two datasets limited.
• In August 2009, new complaints reporting requirements were introduced, affecting data comparability from that point onward. These changes included:
  • Publishing redress data split by product group and firm type.
  • Providing resolution speed and upheld complaint data split by product group.
  • Changes in product categorisation, which limited trend analysis before 2009.
• The FSA updated 2010 H2 and 2011 H1 aggregate data due to individual firm resubmissions.

Conclusion

The 2011 H2 complaints data reflects a significant shift in the types and volumes of complaints, with a notable rise in general insurance and pure protection, especially PPI. The banking sector saw a decline in complaints, but there were increases in credit cards and unregulated loans. The FSA's data also shows improvements in complaint resolution and upheld complaints, as well as increased redress payments. These changes are influenced by legal challenges and updated reporting standards, which have shaped the way complaints are collected and analyzed.