Within the UK, the Road Traffic Act 1988 Part V1, Section 143 defines the compulsory insurance requirements for motor users.
In the perfect world, everyone will comply with the law, but what if the person that has just caused the damage to your vehicle doesn’t have insurance (uninsured)?
The Motor Insurance Bureau, (MIB) was established in 1946 to compensate the victims of negligent uninsured and untraced motorists. Every insurer, 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. It functions under two separate Agreements between Government and the motor insurance industry.
 
One agreement - the Uninsured Drivers’ Agreement - requires the MIB to meet unsatisfied Civil Court Judgments against identified motorists who may not have been insured as required by the Road Traffic Act 1988.
 
The other - The Untraced Drivers’ Agreement -requires the MIB to consider applications for compensation from victims of “Hit & Run” motorists
 
The MIB’s obligations are linked to the compulsory insurance requirements of the Road Traffic Act, so the protection provided is limited to where there is a legal requirement to insure.
So don’t despair if you are involved in an accident/incident with an uninsured vehicle, take comfort in the fact that the person will probably be prosecuted and you may be able to recover some of your uninsured loss back via the MIB

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