Ecclesiastical rated “Excellent” by credit experts
Global credit rating agency AM Best* has affirmed the credit rating of Ecclesiastical Insurance Office PLC (EIO) as “Excellent”.
Ecclesiastical Insurance has retained its top spot in the Fairer Finance Home Insurance league table for the thirteenth time and remains the UK’s most trusted home insurance provider.
The specialist insurer topped the list of 52 insurers including household names such as Nationwide, NFU Mutual, HSBC and John Lewis – retaining Gold Ribbon status for another year.
Fairer Finance, an independent consumer group, surveys around 20,000 UK banking and insurance customers throughout the year, asking them to rate how satisfied they are with their bank or insurance company.
Customers are asked to rate the firms on happiness and trust, Fairer Finance then uses records from the Financial Ombudsman Service (FOS) to assess complaints handling and a combination of mystery shopping and policy document reviews to assess transparency.
Ecclesiastical has topped the table for the thirteenth time and has seen improvements in its scores, with overall customer experience score increasing by 3.07% to 88.58%, 13% higher than closest rival NFU Mutual.
The insurer was also rated the most trusted insurer by its customers, achieving a rating of 94.04%, an increase of 5.57% and 20% higher than NFU Mutual which scored 73.66%.
The insurer’s customer happiness score increased by 5.55% to 92.46%, almost 14% (13.85%) higher than the closest rival NFU Mutual.
Mark Hews, Group Chief Executive, said: “I am delighted that Ecclesiastical has again been voted into first place in the Fairer Finance league table for home insurance for another year.
“We are absolutely committed to being the most trusted financial services group in all our markets, so it is wonderful to hear that we have the happiest customers who believe that they can trust us to do the right thing.
“As a charity owned financial services group our purpose is to contribute to the greater good of society, and we will continue to maintain our support for charitable causes while delivering a high quality of service for our customers.”
James Daley, managing director at Fairer Finance, said: “Ecclesiastical has won first place in our home insurance customer experience ratings for the thirteenth time in a row - extending its lead from what was already an almost unassailable position.”