The GISC enforcement committee has issued a public reprimand for Riding Insurance.
It said the company had failed to provide information requested by GISC following an “unsatisfactory monitoring report”.
In addition to paying a fine, GISC said Riding Insurance should be publicly reprimanded and bring itself into full regulatory compliance as a condition of its continuing membership of GISC.
Riding's membership of GISC is suspended until these conditions are satisfied.
The enforcement committee said it wished to make it clear that extending full co-operation to GISC was important in maintaining consumer protection and sound regulation.
Riding is an independent intermediary carrying on general insurance business from offices at 27 Cairo Street in Warrington.
