Complaints to Financial Ombudsman up 29%

The Financial Services Ombudsman Joe Meade has revealed that more than 2,000 complaints against insurance companies and credit institutions have been sent to his office since the start of the year.

This is 29% higher than the same period last year.

A number of significant rulings were made by the Ombudsman in the first half of this year.

One insurance company was directed to pay more than €200,000 to a former professional rugby player after it had initially refused to honour the claim.

Three awards totalling €61,000 were also made against mortgage brokers after they were found to have given confusing advice.

In another case, a company was forced to pay €310,000 to a widower after the Ombudsman found he was entitled to mortgage protection benefit.