Motor Insurers' Bureau
The Motor Insurers' Bureau was founded in the UK in 1946 as a private company limited by guarantee and is the mechanism in the UK through which compensation is provided for victims of accidents caused by uninsured and untraced drivers, which is funded by an estimated £30 a year from every insured driver's premiums.
Role and history
Its role was and is to enter into agreements with the Government as to how compensation claims from people who have been involved in accidents which were caused by uninsured or untraced drivers may be compensated. Section 95 of the Road Traffic Act 1988 requires every insurer dealing with compulsory motor insurance to belong to the MIB and to contribute to its funding.According to the MIB's website's FAQ section, the cost of funding the MIB is ultimately borne by law-abiding motorists who pay their insurance premiums.
The offices are near the junction of the A422 and B4034 in Linford Wood, Milton Keynes.
MIB schemes
The MIB run three types of schemes that help the victims of negligent drivers named "The uninsured drivers scheme", "The untraced driver’s scheme" and "The green card scheme".The Uninsured Drivers Scheme
This scheme deals with compensation claims arising out of accidents caused or contributed to by an uninsured driver. Where it is shown that no policy of insurance exists covering the responsible party’s vehicle, the MIB will consider dealing with a claim for compensation from the "victim". Liability still needs to be assessed but because the negligent party has been formally identified, the MIB recognise that the innocent victim has rights of full legal redress once fault is proven. This assumes that the MIBs own claims criteria are met.Claims will be considered for the cost of repairing/replacing the vehicle, hire charges, loss of use and property damage. An injured party can also claim for treatment and/or rehabilitation for pain and suffering. Legal costs are paid in full by the MIB once the claim is proven.