Gibraltar regulator the Financial Services Commission (FSC) has issued a warning to the public regarding Unique Car Insurance.
The FSC said it had received information that the firm was operating a website and offering to provide short-term motor insurance to UK drivers under the age of 21.
The regulator stated Unique Car Insurance has claimed that it is a limited company that is authorised and regulated by the Financial Services Commission in Gibraltar.
In a statement on its website, the FSC said: “Unique Car Insurance is not regulated by the FSC, or licensed under the Financial Services (Investment & Fiduciary Services) Act 1989, or the Financial Services (Insurance Companies) Act 1987, to carry on insurance mediation or insurance business in or from within Gibraltar.
“Unique Car Insurance is not a Gibraltar registered company or a trading name registered under the Business Names Registration Act.”
The Gibraltar regulator urged the public to exercise appropriate caution while it continued its investigations.