Determination of Complaints

In terms of Section 75 of the Financial Services Regulatory Authority Act 2010, where a matter has not been settled between a Financial Services Provider and a Complainant the Ombudsman will make a decision with reference to what is fair and reasonable in all the circumstances of each case.

When the Ombudsman has determined a complaint, the Ombudsman gives a written statement of the decision to all the parties. The Determination gives the reasons for the decision; and it is certified and signed by the Ombudsman. The Ombudsman requires the Complainant to notify the Ombudsman in writing, whether the Complainant accepts or rejects the decision.

If the Complainant accepts the decision, it is final and binding on the parties. If, by the specified date, the complainant has not notified the Ombudsman of the acceptance or rejection of the decision, the Complainant shall be treated as having rejected it; and the Ombudsman notifies the Respondent of the outcome.

Below are some of the Determinations of the Ombudsman. The names of the parties have been changed to protect their identity.

 Date Type Description Respondent Outcome Determination
01/12/2017Savings & CreditSavings & Credit - Incorrect interest or fees being chargedCredit ProviderUpheldCCM242016-011217.pdf
05/08/2016InsuranceInsurance- Short term- Motor Personal- Claim declined (policy terms not recognized or met) - Claim repudiationInsurance CompanyUpheldIAH32013-050816.pdf
15/08/2016RetirementRetirement Fund - Pension- Distribution / improper exercise of discretion - Death benefitPension FundUpheldRFAH62013-150816.pdf
07/11/2017Savings & CreditSavings & Credit - Incorrect interest or fees being chargedSavings & Credit Cooperative SocietyUpheldCCM132016-071117.pdf
04/05/2018RetirementRetirement Fund- Pension- Miscalculation of Benefits- Withdrawal BenefitPension Fund; Fund Administrator; EmployerNot UpheldRFM162017-040518.pdf
05/08/2016RetirementRetirement Fund - Pension - Miscalculation of BenefitsPension Fund; EmployerUpheldRFAH372012-050816.pdf
09/04/2018InsuranceInsurance- Short term- Motor Personal- Claim declined (policy terms not recognized or met) - Non-payment of premiumsInsurance Broker; Insurance Company; Financier BankNot UpheldINSH62017-0904181.pdf
 Date Type Description Respondent Outcome Determination