MIB was established in 1946 to compensate the victims of negligent uninsured and untraced motorists.

Every Insurer underwriting compulsory motor insurance is obliged, by virtue of the Road Traffic Act 1988, to be a member of MIB and to contribute to its funding.

The Motor Insurers' Bureau is a company limited by Guarantee registered in England and Wales under company number 412787 whose registered office is at Linford Wood House, 6-12 Capital Drive, Milton Keynes MK14 6XT.