What term refers to the nonprofit trade organization that receives adverse medical information from insurers and helps to compare data on potential insureds?

What term refers to the nonprofit trade organization that receives adverse medical information from insurers and helps to compare data on potential insureds?

• A. Medical Insurance Bureau
• B. Medical Information Bureau
• C. Underwriting Information Network
• D. Insurance Data Exchange

Answer: (A)

Underwriting relies on accurate, shared medical history data. The nonprofit trade association that collects adverse medical information from insurers and provides a centralized database for comparing data on applicants is the Medical Information Bureau. Insurers report health concerns to the MIB, and underwriters use its member data to verify consistency, detect possible misstatements, and help ensure appropriate coverage decisions. The other names listed are not the official organization responsible for this data-sharing function.

Underwriting relies on accurate, shared medical history data. The nonprofit trade association that collects adverse medical information from insurers and provides a centralized database for comparing data on applicants is the Medical Information Bureau. Insurers report health concerns to the MIB, and underwriters use its member data to verify consistency, detect possible misstatements, and help ensure appropriate coverage decisions. The other names listed are not the official organization responsible for this data-sharing function.