Disputes received at the Registration and Referral stage:
We received 10,143 disputes in the January to March 2017 quarter. This is a 6% increase compared with last quarter and an 18% increase compared with the December quarter last year. We saw this increase across all product lines.
Total disputes received by product line
Most disputes received this quarter were credit disputes (40%), followed by general insurance disputes (32%).
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.
This quarter, we accepted 5,491 disputes. This is a 1% decrease compared with last quarter and an 11% increase compared with the same quarter last year. The increase from the same quarter last year was due to the continued high number of disputes received during this financial year.
Credit and insurance disputes accounted for more than three-quarters of disputes accepted. Credit disputes made up 40% of disputes accepted and insurance disputes 37%.
The proportion of insurance disputes accepted (37%) was higher than the disputes received (32%). On the other hand, banking and finance had a slight smaller proportion of disputes accepted (53%) than disputes received (59%). This was because insurers resolved a smaller proportion of disputes at Registration and Referral than those resolved by banking and finance FSPs.
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 9,904 disputes this quarter. This is a 2% increase compared with last quarter and a 29% increase compared with the same quarter last year. This is the highest number of disputes closed in a quarter in the past three years.
Total disputes closed (by outcome)
Of the closed disputes, almost two-thirds (60%) were resolved through an agreement between the FSP and the consumer. This remained consistent with last quarter. We closed 15% of disputes as being outside FOS’s jurisdiction and 11% due to applicants deciding not to pursue their dispute(s).
We closed more than 8% of disputes at the Preliminary View stage and 7% of disputes at the Decision stage.