Travel insurance complaints at their highest levels since the pandemic
16 July 2024
Holidaymakers unhappy with their travel insurance have led to rising levels of complaints.
The Financial Conduct Authority (FCA) has confirmed the increase to our award limits for the coming financial year.
Our award limit is the maximum amount we can require a financial business to pay when we uphold complaints. This limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI).
The FCA has confirmed that, from 1 April 2024, our award limits will go up to:
Different limits apply depending on when the complaint was brought to us. You can read about current and previous limits on our understanding compensation page.
We will be updating the guidance on our website to reflect these changes from 1 April 2024.
The FCA’s policy statement PS19/8 sets out the full background to increasing our award limits. You can see this change in the FCA Handbook.
16 July 2024
Holidaymakers unhappy with their travel insurance have led to rising levels of complaints.
12 July 2024
Complaints about the banking sector are at their highest level in at least a decade.
10 July 2024
The announcement signals the opening of a new hub in Northern Ireland for the Financial Ombudsman