The Motor Insurers’ Bureau of Hong Kong is a company incorporated in Hong Kong and limited by guarantee. It was
incorporated in 1980 and commenced operations on February 1, 1981. All insurance companies in Hong Kong
who are authorized by the Hong Kong Government to write motor vehicle insurance are required to be members of the Bureau.
BACKGROUND
Under the Motor Vehicles Insurance (Third Party Risks) Ordinance, all vehicles must be insured against claims for third party bodily injuries arising out of an accident involving the use of the vehicle on a road.
Instances have arisen where victims of accidents have been unable to recover the damages awarded to them against the owner or driver of a motor vehicle, because of the lack of valid insurance or where some breach of the policy conditions would allow the insurer to repudiate his liability. In addition, there have been limited failures of certain insurers to meet their obligations under their policies due to insolvency.
OBJECTIVE
" The principal objective of the Bureau is to secure the satisfaction of claims made by the injured or his/her dependents in respect of liability for death or bodily injury which arises from the use of motor vehicles on the road, when the use of the vehicle is required to be covered by the Motor Vehicles Insurance (Third Party Risks) Ordinance. "
