CGU disputes FOS findings

Insurer CGU has disputed the findings of the Financial Ombudsman Service (FOS) which recently, for the first time, released names of financial services companies who had received the most consumer complaints against them.
The travel insurance provider, disputes the FOS data which reveals that, while the median number of disputes per 100,000 travel policies-in-force is less than six, CGU Insurance had almost 81 complaints per 100,000 policies.
A CGU spokesperson is quoted as saying, ”Figures in this report do not accurately reflect the experience of CGU’s travel insurance customers. In the six-month period covered by the FOS data, 40,000 policies were in force and CGU had many ”group” policies that covered thousands more customers.
From the total number of policies there were six complaints to FOS during the reporting period. ”We are now talking to FOS about how we ensure that the data accurately reflects CGU’s service in future,” the spokeswoman added.
Sourced and edited from the article by John Collett in the Sydney Morning Herald.

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