The financial services watchdog has taken Federal Court action in Perth against iPlus Risk Management and its directors Michael Andersen and John Pizzey to prevent them from operating a financial services company without a licence.

The Australian Securities and Investments Commission says the company offered commercial and home insurance policies to clients without holding a financial services licence, and has deemed the contracts of insurance between iPlus and specific policyholders to be void.

The Federal Court also made orders to prevent iPlus and its directors from representing that they act on behalf of others.

The directors and company representatives did not appear at the hearing.