Previous complaints data
Complaints data from 1st July to 31st December 2010
Name: The Co-operative Financial Services
Group: The Co-operative Financial Services
Period covered in this return: 1st July 2010 to 31st December 2010
The brand / trading names covered: The Co-operative Bank (including smile and Britannia), Co-operative Insurance Society, CIS General Insurance, CIS Policyholder Services, CIS Unit Managers, The Co-operative Asset Management, Platform, Co-operative Bank Financial Advisers.
| Product / Service Grouping | Number of complaints opened | Number of complaints closed | Complaints closed within 8 weeks (%) | Closed complaints upheld by firm (%) |
|---|---|---|---|---|
| Total | 24,236 | 22,400 | 96.04% | 52.78% |
To put these figures into context less than two (1.83) complaints per thousand live accounts, products or portfolios (as at 30 September 2010) were received during the reporting time period (down 0.08 on H1).
The results above provide an overview of complaints received in respect of all the trading names used by The Co-operative Financial Services. We have split the results of the three largest trading names, each of which has received over 500 complaints for the last reporting period. These are:
- The Co-operative Bank including smile and Britannia
- Co-operative Insurance Society
- CIS General Insurance
The Co-operative Bank including smile and Britannia
Firm name: The Co-operative Bank
Group: The Co-operative Financial Services
Period covered in this return: 1st July 2010 to 31st December 2010
Brand / trading names covered: The Co-operative Bank, Britannia, smile
Products included:
| Product / Service Grouping* | Number of complaints opened | Number of complaints closed | Complaints closed within 8 weeks (%) | Closed complaints upheld by firm (%) |
|---|---|---|---|---|
| Banking | 8543 |
8379 |
98.39% |
50.28% * |
| Home Finance | 1031 |
1048 |
99.62% |
54.29% |
| General Insurance & Pure Protection | 4962 |
2914 |
91.52% |
60.00% |
| Decumulation, Life & Pensions | 92 |
119 |
82.35% |
30.00% |
| Investments | 23 |
22 |
100% |
63.64% |
| Total | 14651 |
12482 |
96.75% |
52.71% |
To put these figures into context just over two complaints (2.07) were received per thousand live policies, accounts or investment products (as at 30 September 2010) during the reporting time period (down 0.02 on H1).
* The number of banking complaints upheld in the period is significantly different from the equivalent figure in the previous reporting period (1 January - 30 June 2010). The figure from the previous reporting period was unusual because of the impact of the large number of complaints about unarranged overdraft charges which were dealt with during that period following the publication of the Supreme Court ruling on related issues.
Co-operative Insurance Society
Firm name: Co-operative Insurance Society
Group: The Co-operative Financial Services
Period Reported: 1st July 2010 to 31st December 2010
Brand/trading names covered: The Co-operative Insurance, The Co-operative Investments
Products included:
| Product / Service Grouping* | Number of complaints opened | Number of complaints closed | Complaints closed within 8 weeks (%) | Closed complaints upheld by firm (%) |
|---|---|---|---|---|
| Banking | 0 |
0 |
N/A |
N/A |
| Home Finance | 0 |
0 |
N/A |
N/A |
| General Insurance & Pure Protection | 665 |
722 |
95.15% |
29.22% |
| Decumulation, Life & Pensions | 2880 |
3255 |
91.67% |
50.97% |
| Investments | 376 |
415 |
94.22% |
18.55% |
| Total | 3921 |
4392 |
92.49% |
44.33% |
To put these figures into context just over one complaint (1.01) per thousand live policies or investment products (as at 30 September 2010) were received during the reporting time period (down 0.05 on H1).
CIS General Insurance
Firm name: CIS General Insurance
Group: The Co-operative Financial Services
Period covered in this return: 1st July 2010 to 31st December 2010
Brand/trading names covered: The Co-operative Insurance
Products included:
| Product / Service Grouping* | Number of complaints opened | Number of complaints closed | Complaints closed within 8 weeks (%) | Closed complaints upheld by firm (%) |
|---|---|---|---|---|
| Banking | 0 |
0 |
N/A |
N/A |
| Home Finance | 0 |
0 |
N/A |
N/A |
| General Insurance & Pure Protection | 4659 |
4462 |
98.30% |
64.46% |
| Decumulation, Life & Pensions | 0 |
0 |
N/A |
N/A |
| Investments | 0 |
0 |
N/A |
N/A |
| Total | 4659 |
4462 |
98.30% |
64.46% |
To put these figures into context under 3 complaints (2.63) per thousand live policies (as at 30 September 2010) were received during the reporting time period (down 0.44 on H1).
*Explanation of product/service groupings:
Banking: this includes current accounts, savings accounts, credit cards, unsecured loans
Home Finance: mortgages and home improvement loans
General Insurance & Pure Protection.
- Co-operative Insurance Society: this includes life insurance products such as level term assurance, decreasing term assurance and critical illness policies
- CIS General Insurance: this includes home, motor, travel and pet insurance products
- The Co-operative Bank: this includes insurance products such as Payment Protection Insurance (PPI), Overdraft Protection Insurance (OPI) and Card Protection Insurance (CPI).
Decumulation, Life & Pensions: this includes pension products, with profit endowment products, with profit bonds and annuity products. Decumulation products turn existing capital into income in retirement.
Investments: this includes unit trusts and stock & shares ISA products, investment bonds and personal interest bearing shares.
