Some 70% of intermediaries have either joined or are likely to join the General Insurance Standards Council (GISC), according to a survey by intermediary Road Runner.

Road Runner, whose managing director is GISC board member Mike Slack, surveyed 1,400 intermediaries.

Of these, 25% were already GISC members or had submitted a membership application.

A further 45% of respondents said they would be joining the new regulatory body in the next three months.

Almost a quarter, 23% of respondents, confirmed that they would be joining GISC when they had to.

Five per cent gave no indication of their intention and 2% stated that they would cease trading rather than join.