Definitions for "Medical Information Bureau"
A service organization that collects medical data on life and health insurance applicants and stores this information for exchange among member insurance companies. Its purpose is to guard against fraud and concealment by helping the companies uncover pertinent health facts about new applicants.
A data pool service that stores confidential reports on the health histories of persons who, in the past, have applied for insurance from other member companies. Most insurers subscribe to this bureau to get more complete underwriting information.
An organization established to guard against fraud by applicants for life and health insurance. MIB maintains the health history on computer for individuals applying for coverage with member companies.