Are you aware the insurance/ healthcare industry keeps a centralized repository of medical and non-medical data that contains information about you?

Most consumers would never apply for a mortgage, credit card, or any financial service product without first checking a copy of their Credit Report. However, millions of consumers apply for products such as life insurance, long-term care insurance, disability income insurance, and annuities without first viewing and verifying the information in their Medical Report.

Unfortunately, the Medical Information Bureau (a/k/a, MIB Group, Inc., a/k/a, MIB, Inc., a/k/a, MIB Solutions, Inc.) is a completely unknown entity among consumers, despite holding the title of “the largest insurance reporting agency in the world.” Founded in 1902, the Medical Information Bureau is a business trade group that exists to serve its membership of more than 750 insurance and health-care companies.

According to the Federal Trade Commission, the Medical Information Bureau member companies account for 99 percent of the individual life insurance policies and 80 percent of all health and disability policies issued in the United States and Canada. To benefit its corporate membership, the Medical Information Bureau collects and furnishes information on consumers to insurance and health-care companies for use in the insurance underwriting process. In addition to an individual’s credit history, data collected by Medical Information Bureau may include medical conditions, driving records, criminal activity, and participation in hazardous sports, among other facts.

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