The Financial Ombudsman Service (FOS) upheld almost a quarter (23%) of formal complaints that it received about income protection in the first quarter of 2020 and almost a fifth (19%) about business protection insurance.
New FOS figures show that the watchdog received 270 complaints about IP during the first quarter, upholding 23% of them.
The watchdog received 1,405 enquiries about business protection in the first four months of the year. There were only 11 cases that it heard formally – and it upheld two of them.
There were 783 complaints about life and critical illness products, with 10% being upheld.
But 70 complaints about private medical insurance went through for formal review, out of over 300 enquiries, and the watchdog upheld 18% of them.
The stats are available here.