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Complaints

Working with you to set things straight

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Complaints figures from July to December 2016

Type of complaint

Number of complaints opened by volume of business

Number of complaints opened

Number of complaints closed

% closed within 3 days

% closed within 8 weeks

% upheld

Main cause of complaints opened

Liverpool Victoria Insurance Company (LVIC)

Insurance and pure protection

1.78 complains per 1,000 policies in force

8,302

8,245

39.5%

56.2%

57.7%

General admin and customer service

Liverpool Victoria Friendly Society (LVFS)

Insurance and pure protection

1.04 complaints per 1,000 policies in force

1,083

997

9.1%

80.8%

60.7%

Advising, selling and arranging

Decumulation and pensions

1.08 complaints per 1,000 policies in force

162

114

22.8%

65.8%

58.8%

General admin and customer service

Investments

0.92 complaints per 1,000 client accounts

98

91

26.4%

70.3%

57.7%

General admin and customer service

LVIC

LVIC covers the brands / trading names of LV=, LV= Frizzell, ABC Insurance and Britannia Rescue.

LVFS

These complaint figures include complaints relating to PPI and banking products sold by LVBS.

Definitions

We've used the definitions set by the Financial Conduct Authority (FCA). Some of them are a bit technical so here's what they mean and the products they relate to.

Decumulation and pensions

Decumulation is the conversion of pension assets built up during your working life into pension income to be spent during your retirement. These complaints relate to pensions, annuities, endowments and whole of life products sold by LVFS.

Banking

Includes complaints about personal loans and credit cards. We closed our banking division to new business in 2008 so we don't offer these products anymore.

Any complaints about these legacy products were dealt with by LVBS until the 31 March 2011 and LVFS afterwards.

Investments

Include complaints about savings plans, ISAs and unit trust investments sold by LVFS.

Insurance and pure protection

Each of our companies has complaints which are included in the 'general insurance and pure protection' category.

Liverpool Victoria Insurance Company (LVIC) includes complaints about our car insurance, home insurance, travel insurance, pet insurance and breakdown cover policies.

Liverpool Victoria Banking Services (LVBS) was dissolved on the 31 March 2011. Any complaints about payment protection insurance policies were dealt with by LVBS until 31 March 2011 and LVFS afterwards.

Liverpool Victoria Friendly Society (LVFS) includes complaints about our life insurance, 50 plus, income protection, critical illness and payment protection policies.


Previous complaints data

January to June 2016

Type of complaint

Complaints opened

Complaints closed

% closed in 8 weeks

% closed in customer's favour

Liverpool Victoria Insurance Company (LVIC)

General insurance and pure protection

5,485

5,219

92.9%

61.5%

Liverpool Victoria Friendly Society (LVFS)

Banking

2

2

100%

50%

General insurance and pure protection (including PPI)

1,069

1,080

96.3%

60.3%

Decumulation, life and pensions

195

175

94.9%

51.4%

Investments

19

20

95%

80%

LVIC

The 5,485 complaints are from over 4.39 million policies, which works out at less than one complaint for every 800 policies held (complaints received in the six months to 30 June 2016 and policy numbers as at 30 June 2016).

LVIC covers the brands / trading names of LV=, LV= Frizzell, ABC Insurance and Britannia Rescue.

LVFS

The 593 complaints are from just over 2.57 million policies which works out at 0.23 complaints per thousand policies or less than one complaint for every 4,342 policies held (complaints received in the six months to 30 June 2016 and policy numbers as at 30 June 2016 and excluding complaints relating to PPI and banking products sold by LVBS).

July to December 2015

Type of complaint

Complaints opened

Complaints closed

% closed in 8 weeks

% closed in customer's favour

Liverpool Victoria Insurance Company (LVIC)

General insurance and pure protection

7,595

7,667

95.3%

52.7%

Liverpool Victoria Friendly Society (LVFS)

Banking

3

3

100%

0%

General insurance and pure protection (including PPI)

1,098

1,055

97.2%

60.1%

Decumulation, life and pensions

175

184

97.8%

63%

Investments

16

14

92.9%

50%

LVIC

The 7,595 complaints are from over 4.28 million policies, which works out at less than one complaint for every 563 policies held (complaints received in the six months to 31 December 2015 and policy numbers as at 31 December 2015).

LVIC covers the brands / trading names of LV=, LV= Frizzell, ABC Insurance and Britannia Rescue.

LVFS

The 532 complaints are from just over 2.58 million policies which works out at 0.21 complaints per thousand policies or less than one complaint for every 4,850 policies held (complaints received in the six months to 31 December 2015 and policy numbers as at 31 December 2015 and excluding complaints relating to PPI and banking products sold by LVBS).


How to make a complaint