Complaints figures from January to June 2023
| 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 Financial Services Limited (LVFS) |
|||||||
| Insurance and pure protection | 1.57 complaints opened per 1000 policies in force | 1551 | 1563 | 70% | 28% | 63% | General admin and customer service |
| Decumulation and pensions | 5.12 complaints opened per 1000 policies in force | 903 | 911 | 40% |
48% |
84% | General admin and customer service |
| Investments | 8.19 complaints opened per 1000 policies in force | 473 | 472 | 69% | 25% |
91% | General admin and customer service |
| 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 Financial Services Limited (LVFS) |
|||||||
| Insurance and pure protection | 1.57 complaints opened per 1000 policies in force | 1551 | 1563 | 70% | 28% | 63% | General admin and customer service |
| Decumulation and pensions | 5.12 complaints opened per 1000 policies in force | 903 | 911 | 40% |
48% |
84% | General admin and customer service |
| Investments | 8.19 complaints opened per 1000 policies in force | 473 | 472 | 69% | 25% |
91% | General admin and customer service |
Definitions
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 and drawdown products sold by LVFS.
Insurance and pure protection
Each of our companies has complaints which are included in the 'insurance and pure protection' category.
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 Financial Services Limited (LVFS) includes complaints about our life insurance, 50 plus, income protection, critical illness cover and payment protection policies.
LVFS
These complaint figures include complaints relating to PPI and banking products sold by LVBS.
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, endowments, ISAs and unit trust investments sold by LVFS.
Complaints figures from July to December 2022
| 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 Financial Services Limited (LVFS) |
|||||||
| Insurance and pure protection | 1.79 complaints opened per 1000 policies in force | 1775 | 1784 | 70% | 28% | 75% | General admin and customer service |
| Decumulation and pensions | 3.48 complaints opened per 1000 policies in force | 617 | 653 | 47% |
41% |
89% | General admin and customer service |
| Investments | 12.72 complaints opened per 1000 policies in force | 778 | 792 | 78% | 19% |
96% | General admin and customer service |
| 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 Financial Services Limited (LVFS) |
|||||||
| Insurance and pure protection | 1.79 complaints opened per 1000 policies in force | 1775 | 1784 | 70% | 28% | 75% | General admin and customer service |
| Decumulation and pensions | 3.48 complaints opened per 1000 policies in force | 617 | 653 | 47% |
41% |
89% | General admin and customer service |
| Investments | 12.72 complaints opened per 1000 policies in force | 778 | 792 | 78% | 19% |
96% | General admin and customer service |