Motor Insurers' Bureau of Hong Kong

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About Us > Performance Pledge

PERFORMANCE PLEDGE

MIB pledges to perform its functions as prescribed in the Agreements it entered into with the Government of the HKSAR in respect of liability arising out of the death of or bodily injury to any third party for which a policy must insure the use of a motor vehicle by a person in order to comply with the Motor Vehicles Insurance (Third Party Risks) Ordinance.

These functions, to safeguard the interest of traffic accident victims, include satisfying claims for compensation by the traffic accident victims

under the First Fund Scheme

-	where either at the time of the accident giving rise to liability there is not in force a policy or such policy is ineffective, and judgment so obtained is not satisfied in full within 28 days;
-	where the aggregate of any sums payable under judgment or judgments of relevant liability against the same person or persons arising from the same event exceed the greater of the prescribed limit or the higher limit afforded by an insurer under the policy and to the extent that the judgment debtor is unable to pay the uninsured portion of such judgment within 28 days;
-	where any judgment in respect of relevant liability arises out of Terrorist Acts subject to a maximum aggregate amount of HK$200 million; and
-	The MIB has no legal obligation to pay victims of “hit and run” since no judgment can enter against an unidentified driver of such incident. However, the MIB will pledge to give favourable consideration to financially assist “hit and run” victims on an ex-gratia basis provided there is a reasonable certainty in its view that the injury or death was caused by negligent driving.

under the Insolvency Fund Scheme

-	where any final claim is not paid in full by the relevant insurer by reason of its insolvency.

MIB endeavours to provide a useful and effective service in managing public enquiries, requests, complaints and claims. We will give immediate acknowledgement or will respond within three working days.

MIB is not required to comply with the GN10 principles. Nevertheless MIB is committed to high standards of corporate governance. It runs along the lines of an authorized motor insurer, and is directed by a Council comprising exclusively of independent knowledgeable and experienced insurance managers in senior positions in the industry. We believe all aspects of our management can withstand any scrutiny applied to compare MIB operations with an authorized insurer. MIB’s policy is to be lawful, highly principled and socially responsible in all of its business practices.

We commissioned a voluntary review on our procedures for processing claims by the Advisory Services Group, Corruption Prevention Department, ICAC. Their observations and comments were very helpful in our further enhancement of the transparency and accountability of the claims process.