Statistics show listed motor insurance policies are beating government target.
New figures on the government’s target of 14 days for motor insurance policies to become listed on the Motor Insurance Database (MID) appear promising.
As of the start of 2008, 95% of commercial and fleet vehicles policy details have had to be recorded on the MID within 14 days of any change. According to the Motor Insurers' Bureau (MIB), statistics for March show that 96.4% have arrived within that time scale.
Additionally, the number of motorists visiting the MID website (www.askmid.com) in order to check their vehicle is listed has risen to 50,000 a week, or 2.5 million hits a year.
The MIB said: “With the 97.1% figure already recorded for the private car seven-day target, the industry has clearly developed a secure foundation for delivering its obligations.
“Against a backdrop of police seizures doubling in 2007 to 150,000, and claims that reach the Motor Insurers’ Bureau falling for the second year running, these latest time-to-supply figures confirm the industry’s determination to deliver honest motorists into compliance, and not into the hands of the police.”
The MIB is the fund of last resort in the UK where a motorist responsible for an accident either had no insurance or failed to stop. It manages the MID, which contains details of all registered vehicles in the UK. There are over 35 million vehicles listed.
