Bis is to take over hosting Wise's Trusted Trading system when BT's broadband operation Ignite Solutions pulls out on August 31. It will also host the Wise website and directory service.

BT announced it was pulling the plug on Wise in May, saying lack of interest from non-London market insurers meant the relationship was not commercially viable.

The new service from BIS will be fully operational from August 25. Customers will have to reconfigure their email gateways by September 1, otherwise emails will be rejected from early in the month.

BIS will provide the customer helpdesk for the service, with second-level support available from Wise for the initial directory service and website.

Additional technical support will be provided during the transition period to minimise the risk of messages being rejected.

Wise said most of the 47 current subscribing organisations intended to continue with the replacement service.

A user group will be set up to stimulate interest in the use of Trusted Trader, with the first meeting due to be held in September.

BIS was formed in 1996 to supply internet services to the Baltic Exchange's corporate membership. It has recently expanded its services to include insurance, finance and legal companies.

Chief executive of BIS, David Pyemont, said hosting Trusted Trader for Wise was part of the expansion into other areas.

“Provision of the Wise service fits perfectly with BIS's expansion of its service offerings, which have hitherto been largely concentrated in the shipping market, into the insurance community.”