More than 130 leading wholesalers have agreed to provide information about their businesses for a new database, according to Institute of Insurance Brokers (IIB) director general Andrew Paddick.

Paddick said that to date more than 130 leading wholesalers had agreed to cooperate, with only a few smaller niche players declining.

From autumn, the IIB plans to feature a directory of all firms that wholesale or offer schemes, including a status report on each, on its website.

The IIB said the new service was designed to act in the same way as solvency reports issued by international agencies about authorised insurance companies. The service would also review the terms and conditions of the products on offer.

Based on feedback from brokers, the IIB has compiled a list of wholesalers, who it is now writing to requesting information.

The type of status report will vary according to the level of information provided by each organisation, while firms that fail to provide any information will be listed on the site as "declined to participate".