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Issue 27 - October 2016

Statistics report

 

Disputes received at the Registration and Referral stage.
We received 9,781 disputes in the July to September quarter. This is a 4% increase compared with the previous quarter and a 16% increase compared with the same quarter last year. The increase was across all product lines, however General Insurance disputes have been a main cause of high dispute numbers during the last six months.

Line graph showing disputes received by quarter


Total disputes received by product line
Most disputes received this quarter were credit disputes (43%), followed by General Insurance disputes (30%).

Table showing the number of disputes received by product line during July - September 2016.
Note: The total number of disputes received in this table exceeds the total reported in the chart above. The total in that chart is based on counting each case, even if it is about multiple products and issues, as one dispute.


Accepted disputes
This quarter, we accepted 5,836 disputes. This is a 4% increase compared with last quarter and a 26% increase compared with the September quarter last year. The increase from the same quarter last year was mainly due to the lower number of disputes accepted in the September 2015 quarter following the introduction of our new dispute resolution process in July 2015. As part of the new process, we initially refer all disputes received to the FSPs. As a result, a lower number of disputes were accepted.

Line graph showing the number of disputes accepted by quarter.

Credit and insurance disputes accounted for more than three-quarters of disputes accepted. Credit disputes made up 42% of disputes accepted and insurance disputes 35%.
The proportion of insurance disputes accepted (35%) was higher than the proportion of insurance disputes received (30%). On the other hand, banking and finance had a smaller proportion of disputes accepted (55%) than disputes received (61%). This was because insurers resolved a lower proportion of disputes at Registration and Referral than those resolved by banking and finance FSPs.

Table showing the number of disputes accepted by product line for the July to September quarter 2016.

Note: The total number of disputes accepted in this table exceeds the total for this quarter in the chart above. The total in that chart is based on counting each case, even if it is about multiple products and issues, as one dispute.


Disputes closed
We closed 9,576 disputes in the September quarter. This is a 10% increase compared with last quarter and a 12% increase compared with the September quarter last year. This was due to an increase (17%) in the number of disputes closed at Registration and Referral, and is the highest number of disputes closed in a quarter in the past three years.

Line graph showing the number of disputes closed by quarter.


Total disputes closed (by outcome)
Of the closed disputes, almost two-thirds (62%) were resolved through an agreement between the FSP and the consumer. Compared with last quarter, this is a 1% decrease. We closed 16% of disputes as being outside FOS’s jurisdiction and almost 9% due to applicants deciding not to pursue their dispute(s).

We closed more than 7% of disputes at the Preliminary View stage.

The proportion of outcomes in all categories remains fairly consistent with last quarter.

Table showing the number of disputes closed by outcome for the July to September quarter 2016.

Notes
1. At the time of publication, the data in this report accurately reflects data held in FOS's case management system.
2. Data variation between monthly reports may occur due to reopened disputes, information entered in error or case actions being back dated for valid reasons.
3. All the percentages in this report have been rounded to the nearest whole number. Because of this rounding, the sum of the percentages in a given table might not add to 100%.

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