Ensurance admits it made an “error” by failing to disclose details of two loan agreements, as required by the Australian Securities Exchange.

The loans are with an entity related to Executive Chairman Tony Leibowitz.

“Because the funding arrangements are a secured loan arrangement with a related entity, disclosure to the market should have been made,” Ensurance says in response to the sharemarket’s queries. “On reflection, this was an error.”

The broker and insurance technology group also wrongly described one of the loans – an initial secured cash advance facility of up to $1 million – as unsecured.

“This was an oversight… the unsecured facility should have been disclosed as a secured loan facility,” Ensurance says.

The credit limit for this loan was increased to $2.5 million last month.

Meanwhile, Tony Wehby has been appointed an Ensurance non-executive director with immediate effect.

Mr Wehby is Chairman of listed lithium and gold explorer Kingston Resources.

Non-Executive Director Stefan Hicks, who took on the role in February, has resigned to pursue his own business interests.