MIB Group, Inc.
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| 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 since 1902 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.
It should be worth noting that consumers who have not applied for individually underwritten life, health, long-term care, disability income and critical illness insurance in the past 7 years would have no MIB record ("MIB Group, Inc. Consumer Guide". http://www.mib.com/html/consumer_guide.html.).
MIB is based in Braintree, Massachusetts, and was established in 1902.
[edit] References and external links
- MIB Group website
- Littell, Bob (2000-02-07). "The Mysterious MIB - Not Any More...". The National Underwriter. http://www.mib.com/html/mysterious_mib.html. Retrieved 2006-08-04.
This article incorporates public domain material from the United States Government document "http://www.ftc.gov/opa/1995/06/mib.htm".
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