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Issue 15 - Spring 2013

Statistics

 

We received 8,304 disputes from July - September 2013. This was a slight increase from the previous quarter (up by 1%) but a decrease of 5% from the same quarter last year (September 2012). The reduction in credit, general insurance and payment systems disputes are the main factors involved in the lower numbers compared to the same quarter last year.

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Total disputes received by product line

The majority of disputes received this quarter continued to be credit disputes (48%), followed by general insurance disputes (28%).


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Note: The total number of complaints and 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.

 

Disputes received at the Registration stage

Registration is the first stage in our dispute resolution process. When we register a dispute, we record the basic details and refer them on to the financial services provider (FSP). The FSP then has an opportunity to resolve the dispute with its customer without our involvement. Click here for more information about our process.

We received 3,544 disputes in July – September 2013 at the Registration stage. By the end of the quarter, 29% of these disputes had been resolved by the financial services provider (a 4.2% increase compared to last quarter), over 26% had been escalated further to the next stage of our resolution process, and around 40% were still open at the Registration stage. These figures reflect the reduction in the number of disputes we received at the Registration stage this quarter compared to last quarter.

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Accepted disputes

Acceptance is the second stage in our dispute resolution process. It is the point at which we start playing an active role in trying to resolve a dispute. Click here for more information about our process.

The number of disputes accepted during this quarter (6,178 disputes) is similar to the number we accepted last quarter, but the figure is 3% lower than during the same quarter last year. We anticipated this reduction as our members had told us they would be focusing on improving their Internal Dispute Resolution process from this financial year onwards.

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The breakdown of accepted disputes by product line is consistent with the breakdown of disputes received in this quarter.

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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 9,007 disputes this quarter. This number is 3% lower than the same quarter last year but 3% higher than during the June 2013 quarter.

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Note: There were 16 disputes accepted under last jurisdiction and subsequently closed during 2012-13. These closed disputes are included on the graph above.



Total disputes closed (by outcome)

The table below shows the outcomes of the disputes we closed in July – September 2013. Of those disputes, 71% were resolved through an agreement between the financial services provider and the applicant (the person or business who lodged the dispute), which was a slight increase on last quarter.

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Notes:

  • All the data in this report was correct at the time of extraction.
  • 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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