Accepted disputes In 2015-16, credit disputes accounted for 47% of all accepted disputes (49% last by product line year), followed by general insurance with 31% (26% last year). Accepted disputes are those that have entered the Case Management stage of our dispute resolution process. Accepted disputes by product line in 2015-16 Disputes closed In 2015-16, FOS closed 32,871 disputes, 5% less than last year. Of all the disputes we closed in 2015-16, more than one-third (37%) were closed A dispute can be closed: during Registration and Referral and through an agreement between the almost two-thirds (63%) closed after they parties involved were accepted into Case Management. through a decision made by FOS because the dispute is discontinued or outside our Terms of Reference. Total disputes closed by year 2011-12 2012-13 2013-14 2014-15 2015-16 Total 36,049 33,773 33,450 34,714 32,871 Dispute outcomes Collaborative resolutions are quicker and cheaper than resolutions achieved through The proportion of disputes closed by a formal decision by FOS. They can be agreement between the applicant and the tailored to the specific facts of the dispute FSP continued the reduction of recent and are also more likely to maintain, or years, from 63% last year to 61%. The even improve, relationships between the proportion of disputes resolved through a consumer and their FSP. FOS decision because an agreement – could not be reached was 15% – compared with 13% last year.
Accepted disputes by product line Accepted disputes are those that have entered the Case Management stage of our dispute resolution process. In 2015-16, credit disputes accounted for 47% of all accepted disputes (49% last year), followed by general insurance with 31% (26% last year). Accepted disputes by product line in 2015-16 Disputes closed In 2015-16, FOS closed 32,871 disputes, 5% less than last year. A dispute can be closed: through an agreement between the parties involved through a decision made by FOS because the dispute is discontinued or outside our Terms of Reference. Of all the disputes we closed in 2015-16, more than one-third (37%) were closed during Registration and Referral and almost two-thirds (63%) closed after they were accepted into Case Management. Total disputes closed by year 2011-12 2012-13 2013-14 2014-15 2015-16 Total 36,049 33,773 33,450 34,714 32,871 Dispute outcomes The proportion of disputes closed by agreement between the applicant and the FSP continued the reduction of recent years, from 63% last year to 61%. The proportion of disputes resolved through a FOS decision – because an agreement could not be reached – was 15% compared with 13% last year. Collaborative resolutions are quicker and cheaper than resolutions achieved through a formal decision by FOS. They can be tailored to the specific facts of the dispute and are also more likely to maintain, or even improve, relationships between the consumer and their FSP.
20152016-fos-annual-review-snapshot-word-format.docx