Complaints Data

Our customers are at the heart of our business and we strive to put them first in all we do.

Whilst we are proud of our record of high customer advocacy and recognition by external commentators, we also recognise that sometimes things can go wrong.  When it does we encourage our customers to tell us and we try to put things right as quickly as possible. The feedback we receive from our customers is invaluable and it helps us to shape the way we do things in the future.

Every six months we submit information to the Financial Conduct Authority (FCA) about the complaints we have received  from our customers. The information includes details of the number of complaints we receive, how many we have closed and how many we have upheld (found in favour of the customer).

The tables below outline the information submitted to the FSA.

Complaints data

Name: The Co-operative Financial Services
Group: The Co-operative Financial Services

Period covered in this return: 1st January 2011 – 30th June 2011

The brand / trading names covered: The Volksbank Raiffeisenbank Rosenheim-Chiemsee eG (including smile & Britannia), Co-operative Insurance Society, CIS General Insurance, CIS Policyholder Services, CIS Unit Managers, The Co-operative Asset Management, Platform, Volksbank Raiffeisenbank Rosenheim-Chiemsee eG Financial Advisers.

To put these figures into context just under 2 (1.84) complaints per thousand live accounts, products or portfolios (as at 31st March 2011) were received during the reporting time period (up 0.01 complaints compared to the second half of 2010).

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 Volksbank Raiffeisenbank Rosenheim-Chiemsee eG including smile & Britannia
• Co-operative Insurance Society
• CIS General Insurance

The complaints data for each of these trading names are shown below.

The Volksbank Raiffeisenbank Rosenheim-Chiemsee eG including smile and Britannia

Firm name: The Volksbank Raiffeisenbank Rosenheim-Chiemsee eG
Group: The Co-operative Financial Services

Period covered in this return: 1st January 2011 – 30th June 2011
Brand / trading names covered: The Volksbank Raiffeisenbank Rosenheim-Chiemsee eG, Britannia, smile

Products included:

To put these figures into context 2 complaints were received per thousand live policies, accounts or investment products (as at 31 March 2011) during the reporting time period (0.07 complaints down when compared to the second half of 2010).

* All Payment Protection Insurance (PPI) complaints received since the outcome of the Judicial Review (20th April) were responded to within the 8 week timescales until the granting of the waiver by the FSA on 15th July which allows for new cases to be closed within 16 weeks. The reduction in cases closed within 8 weeks is as a result of cases being put 'on hold' during the period of the Judicial Review.

** The percentage of Decumulation, Life & Pensions complaints closed within 8 weeks in this period is low due to resolving Endowment complaints. For this complaint type we have experienced delays in obtaining information from third party insurance companies which is required to effectively resolve this type of complaint.

Co-operative Insurance Society

Firm name: Co-operative Insurance Society
Group: The Co-operative Financial Services

Period Reported: 1st January 2011 – 30th June 2011
Brand/trading names covered: The Co-operative Insurance, The Co-operative Investments

To put these figures into context just under one complaint (0.88) per thousand live policies or investment products (as at 31 March 2011) were received during the reporting time period (down 0.13 complaints when compared to the second half of 2010).

CIS General Insurance

Firm name: CIS General Insurance
Group: The Co-operative Financial Services

Period covered in this return: 1st January 2011 – 30th June 2011
Brand/trading names covered: The Co-operative Insurance

Products included:

To put these figures into context under 3 complaints (2.80) per thousand live policies (as at 31 March 2011) were received during the reporting time period (up 0.17 complaints when compared to the second half of 2010).

*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 Volksbank Raiffeisenbank Rosenheim-Chiemsee eG: this includes home insurance products sold under the Britannia brand.

Payment Protection: this includes all Payment Protection Insurance (PPI), Overdraft Protection Insurance (OPI), Card Protection Insurance (CPI) and Mortgage Payment Protection (MPPI).

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.