Complaints

Complaints Data

See our latest complaints figures

Complaints figures from July to December 2020


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  0.88 complaints opened per 1000 policies in force 881 953 33% 55% 59% General admin and customer service
Decumulation and pensions  1.53 complaints opened per 1000 policies in force 341 328 25%
64%
86% General admin and customer service
Investments 2.68 complaints opened per 1000 policies in force 191 189 31% 66%
85% 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  0.88 complaints opened per 1000 policies in force 881 953 33% 55% 59% General admin and customer service
Decumulation and pensions  1.53 complaints opened per 1000 policies in force 341 328 25%
64%
86% General admin and customer service
Investments 2.68 complaints opened per 1000 policies in force 191 189 31% 66%
85% 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 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. 

 

Previous complaints data

January to June 2020

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 1.60 complaints per 1,000 policies in force 1597 2417 15% 27%
 84% Advising, selling and arranging
Decumulation and pensions 1.30 complaints per 1,000 policies in force 293 306 24%
63%
 85% General admin and customer service
Investments 2.59 complaints per 1,000 client accounts 192 214 28%
60%
 86% 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 1.60 complaints per 1,000 policies in force 1597 2417 15% 27%
 84% Advising, selling and arranging
Decumulation and pensions 1.30 complaints per 1,000 policies in force 293 306 24%
63%
 85% General admin and customer service
Investments 2.59 complaints per 1,000 client accounts 192 214 28%
60%
 86% General admin and customer service