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Annual review

 

On 22 November we released our Annual Review and Comparative Tables for 2011-2012. The figures show another year of increasing disputes at FOS, but also that we are resolving these disputes more frequently at an earlier stage through negotiation and conciliation.

Some interesting statistics are that in 2011-2012:

  • We received a total of 36,099 disputes, up 19% from 2010-2011.
  • We accepted 25,298 disputes, up 24%.
  • We resolved 24,983 accepted disputes, up 31%.
  • The number of disputes resolved by agreement rose to 74%, up from 71%.
  • 52% of disputes were resolved within 60 days and 71% were resolved within 120 days, both improvements on the 50% resolved in 60 days and 68% resolved in 120 days during 2010-2011.
  • Credit disputes made up 50% of all disputes we received (up from 48%) and were therefore the most common dispute category. The second highest dispute category was general insurance, with 29% of all accepted disputes (a 35% increase on 2010-2011).

You can read our Annual Review and Comparative tables at www.fos.org.au/annualreview.

 

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