Gibraltar-based insurer Markerstudy has been rapped for its website promotions by direct writers, Esure and Direct Line.
The website showed caricatures of Markerstudy directors chasing the Esure mouse and the Direct Line red phone in cars.
But an Esure spokesman denied that Markerstudy would face legal action.
"When we first looked at the advertising, we laughed. But, we have to protect our brand. This is the main issue for us, since [Markerstudy] doesn't compete in our market."
A spokeswoman for Direct Line said: "We had a word with Markerstudy and they've agreed to drop our phone from their advertising."