MIB stands for what?

• A. A government health agency
• B. A private hospital network
• C. A membership corporation owned by member insurance companies - nonprofit trade organization
• D. A consumer protection bureau

Answer: (C)

MIB is a nonprofit, membership-based organization owned by member insurance companies that acts as a centralized database used by life and health insurers to support underwriting. This means it’s not a government agency, a private hospital network, or a consumer protection bureau—it's a cooperative trade organization created by insurers themselves to share information relevant to insurability and help ensure consistent underwriting decisions. The information stored is used by subscribing insurers to verify disclosures and identify potential misrepresentation, rather than to provide public services or legal/regulatory oversight.