The Motor Insurance Bureau (MIB) was established in 1946 as a private company limited by guarantee for the purpose of entering into Agreements with the Government to compensate the victims of negligent uninsured and untraced motorists.
Every insurance company underwriting compulsory motor insurance is obliged, by virtue of the Road Traffic Act 1988, to be a member of MIB and to contribute to its funding.
In short therefore, a percentage of your insurance premium is used to fund the MIB, and due to the number and monetary value of claims, this contribution is generally increasing, year in, year out.
A fundamental component for MIB is to ensure that claims which result from the negligent actions of uninsured or untraced motorists are dealt with fairly, efficiently and promptly.
The good news is that the total number of new claims reported to the Bureau in 2007 fell for the second consecutive year realising an almost 10% reduction in the last two years displaying progress by the insurance industry, the Government and the Police in delivering positive results in the fight against uninsured driving.
The MIB, ABI (Association of British Insurers) and BIBA (British Insurance Brokers Association) have worked closely with the Government, the Police and DVLA to co-ordinate activity in order to address this socially unacceptable menace of uninsured motoring.
It is therefore essential that enforcement action is maintained against offenders. The Motor Insurance Database (MID) is now proving to be a key tool in the fight against uninsured motoring.
The Police have access to the MID, as do the DVLA when you tax your vehicle on line. It is therefore essential that your insurance record is correctly on the MID.
The penalties for failure to comply are getting more and more severe so if you want to keep driving on our roads, make sure you are insured.
You have been warned.
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