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 |
|---|---|---|---|---|---|
| 01/12/2017 | Savings & Credit | Savings & Credit - Incorrect interest or fees being charged | Credit Provider | Upheld | CCM242016-011217.pdf |
| 05/08/2016 | Insurance | Insurance- Short term- Motor Personal- Claim declined (policy terms not recognized or met) - Claim repudiation | Insurance Company | Upheld | IAH32013-050816.pdf |
| 15/08/2016 | Retirement | Retirement Fund - Pension- Distribution / improper exercise of discretion - Death benefit | Pension Fund | Upheld | RFAH62013-150816.pdf |
| 07/11/2017 | Savings & Credit | Savings & Credit - Incorrect interest or fees being charged | Savings & Credit Cooperative Society | Upheld | CCM132016-071117.pdf |
| 04/05/2018 | Retirement | Retirement Fund- Pension- Miscalculation of Benefits- Withdrawal Benefit | Pension Fund; Fund Administrator; Employer | Not Upheld | RFM162017-040518.pdf |
| 05/08/2016 | Retirement | Retirement Fund - Pension - Miscalculation of Benefits | Pension Fund; Employer | Upheld | RFAH372012-050816.pdf |
| 09/04/2018 | Insurance | Insurance- Short term- Motor Personal- Claim declined (policy terms not recognized or met) - Non-payment of premiums | Insurance Broker; Insurance Company; Financier Bank | Not Upheld | INSH62017-0904181.pdf |
| Date | Type | Description | Respondent | Outcome | Determination |
