21 june 2023, 14:00

FOS holds annual workshop for insurance companies

On June 14, 2023, the Financial Ombudsman Service (FOS) held an annual workshop for insurance companies and the All-Russian Union of Insurers, at which the results of the FOS activities in 2022 and the beginning of 2023 were presented. The event was attended by over 80 representatives of insurers.

During the workshop the statistics of processing of appeals of consumers of financial services concerning insurance companies with the reflection of dynamics of change of key parameters in the given direction was provided, the existing tendencies in the issues of cooperation of insurance companies with the Financial Ombudsman Service were highlighted, including the improvement of executive discipline of insurance companies in terms of submitting documents and information on requests of the Financial Ombudsman, the statistics on appealing by insurance companies against the Financial Ombudsman’s decisions was also considered.

Particular attention was drawn by the Ombudsman for financial services consumers support Service (OFSC) to the interaction between the Financial Ombudsman Service and the Bank of Russia, the Russian Supreme Court, other state authorities, the insurance community and expert organisations, as well as to the discussion of unfair practices of insurance companies that have been identified by the FOS.

Also outlined were the objectives of the FOS cooperation agreements with, among others, the Bank of Russia and the Federal Bailiff Service of Russia, as well as future plans, including, in particular, the conclusion of cooperation agreements with the Russian Federal Consumer Rights Protection and Human Health Control Service (Rospotrebnadzor) and the Russian Federal Antimonopoly Service, cooperation with the insurance community in legislative activities, efforts to counteract unfair practices and the enhancement of tools aimed at identifying those who file appeals to the Financial Ombudsman.

At the end of the workshop, representatives of the OFSC answered the most pressing questions from the workshop participants concerning the interaction of insurance companies with the Financial Ombudsman Service.