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Issue 17 - May 2014

Statistics report

 

We received 8,081 disputes from January-March 2014. This was a 9% increase from the previous quarter and a 6% increase from the same quarter last year. The increase in credit, deposit taking, investments and life insurance disputes continued to be the main factors involved in the higher 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 (49%), followed by general insurance disputes (26%).circular 17 - stats 2
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.

 

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 the consumer directly, without our involvement. Click here for more information about our process.
 
We received 3,380 disputes at the Registration stage in January-March 2014, which is an increase of 8% compared with last quarter. By the end of the quarter, 26% of these disputes had been resolved by the financial services provider, 23% had been escalated further to the next stage of our dispute resolution process, and around 47% were still open at the Registration stage.

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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 (5,933 disputes) was 9% higher than during the previous quarter and 4% higher than the same quarter last year.

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

The proportion of disputes accepted by product lines remains similar to previous quarters.

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

The proportion of disputes accepted by product lines remains similar to previous quarters.

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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.


We closed 7,919 disputes this quarter. This was 6% lower than last quarter but 6% higher than the same quarter last year.

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Total disputes closed (by outcome)
The table below shows the outcomes of the disputes we closed in January-March 2014. Of those disputes, 70% were resolved through an agreement between the financial services provider and the consumer (the person or business who lodged the dispute), which was a slight increase (1%) 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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