Medical Information Bureau

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MIB Group, Inc.
Type mutual benefit nonprofit corporation
Founded 1902
Headquarters Braintree, Massachusetts, United States
Industry insurance
Website http://www.mib.com

MIB Group, Inc. ("MIB") is a membership corporation (sometimes described as an "industry trade association") owned by approximately 470 member insurance companies. Once known as the "Medical Information Bureau," MIB has been in continuous operation for over 105 years pursuing its primary mission of detecting and deterring fraud that may occur in the course of obtaining life, health, disability income, critical illness, and long-term care insurance. MIB's fraud detection and deterrence saves its member companies, on an annual basis, an estimated $1 billion by allowing them to avoid fraudulent insurance applications and early claims. These savings may be passed on to insurance buying consumers in the form of lower premiums (and higher dividends payable by mutual companies), which may allow them to buy more insurance at affordable premiums.

According to MIB, most people do not have an MIB record, and only 15 to 20 out of every 100 insurance applications generate an MIB record.

MIB is based in Braintree, Massachusetts, and was established in 1902.


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This article incorporates text from http://www.ftc.gov/opa/1995/06/mib.htm, a public domain work of the United States Government.


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