The Motor Insurers Fund (MIF)
There has existed since 1990 in Bermuda a fund created by a Memorandum of Agreement with the Minister of Transport and the principal motor insurers in Bermuda for the purpose of compensating victims of uninsured or untraceable drivers. With the passage of time and claims experience, certain improvements have been made to the original Agreement. Also, the limits of payment by the Fund have increased from the original $375,000 to the present $750,000 .
The Agreement is on this site as is the Claim Form. Please see links above. The principal features of the Agreement are that:
- The limit of the Fund in respect of any claim for death or injury to any one person shall be $375,000 and in respect of any one accident $750,000.
- The Fund does not compensate for property damage, only personal injury.
- If there is any insurance coverage or indemnity from a third party for any part of the claim, then the Fund does not pay for that part of the claim.
- In respect of a hit-and-run accident or where the driver is untraceable, a claim must be made within one year of the accident.
- It is required that a claimant provide written notice of the commencement of any proceedings against any party at least seven days before commencing those proceedings.
- A passenger who drives in a vehicle when they know or ought to have known that the driver did not have insurance is debarred from recovery.
- Where the fund requires a person to proceed to obtain a judgment against the uninsured driver, then the fund will reimburse the claimant with an amount of costs as would be taxed under the Rules of the Supreme Court.
- The above synopsis should not be regarded as a substitute for the exact wording in the Memorandum of Agreement or for the purpose of any legal interpretation of the language of the Agreement.