Financial Ombudsman Service Increases Awards Cap
On 13 March 2024 the Financial Ombudsman Service (FOS) announced increases to the cap that applies to their awards.
The increased awards will affect complaints referred to FOS on or after 1 April 2024:
- £430,000 will apply to complaints about acts or omissions by firms on or after 1 April 2019 where the complaint is referred on or after 1 April 2024;
- £195,000 will apply to complaints about acts or omissions by firms before 1 April 2019 where the complaint is referred on or after 1 April 2024.
Fenchurch Advocacy Services offers a non-legal service to assist Policyholders with insurance coverage disputes that may be eligible for referral to the FOS. In general terms this will include disputes from consumers, micro enterprises and SME businesses. The non-legal service is different from the services provided by our legal team, and offers a cost effective solution for FOS eligible complaints, with a view to levelling the playing field for all Policyholders.
For more information, please visit FOS Eligible Work | Fenchurch Advocacy Services (fenchurchlaw.co.uk) or contact our Insurance Consultant, Phil Taylor at phil.taylor@fenchurchlaw.co.uk.
Other news
A twist in the tale!: – the Court of Appeal throws up some surprises in the “At the Premises” judgment
9 September 2024
The long-awaited judgment in the “At the Premises” (“ATP”) judgment has now been handed down, and the expected…
You may also be interested in:
Archives
Categories
- Press Release
- Uncategorized
- The Good, the Bad and the Ugly
- Fenchurch Law Webinars
- Stonegate
- Newsletter
- Events
- Webinars
- Comparing German and English Insurance Law – A Series
- Construction Risks
- Operations
- Business Development
- Construction & Property Risks
- News
- International Risks
- Legislation
- Financial & Professional Risks
- Case Law
- Professional Risks