The Australian Securities and Investments Commission (ASIC) has forced Insure 247 – an authorised representative of Ausure Insurance Brokers – to change misleading or deceptive advertising on its websites.

The company, which runs four sites offering general and life insurance, claimed it could compare the products of “50 different insurers”.

ASIC says the websites gave the impression they were tools to compare different insurance products’ features and costs. It says there was no evaluation or comparison of the products.

The regulator also found Insure 247 displayed the logos of insurers that were not offering quotes on products.

Only one insurance provider received consumer details via the website, when users thought their online applications would be passed to many, the regulator says.

Insure 247 has changed its websites to prominently state it is not a market comparison service. It has also corrected the use of logos and made it clear only one quote may be provided for some products.

ASIC Deputy Chairman Peter Kell says direct insurers must ensure their websites accurately portray services’ features and limitations.