Delays top most Channel Islands finance complaints

Current accounts attracted the most complaints, according to the report

Poor administration and delays are the leading cause of financial complaints, the Channel Islands Financial Ombudsman has said in its latest quarterly report.

Of the 90 new cases opened from April to June, more than a third (36%) were related to administrative failings or delays in service, making it the most common issue raised by consumers across Jersey, Guernsey, Alderney, and Sark.

Current accounts attracted the most complaints, representing 52% of new cases, followed by home emergency insurance (13%) and health insurance (10%).

Other key concerns included non-payment of claims (19%) and fraud (9%).

The report said it closed 141 complaints during the quarter and more than half (56%) were resolved through mediation or formal ombudsman decisions.

However, 35% were outside the ombudsman's legal remit, and a small number were either withdrawn or settled early.

Of the 78 complaints that were mediated or determined, 35% were upheld in full or in part in favour of the complainant, while 65% were resolved in favour of the financial service provider.