Motor Insurance Database (MID)
Terms of Business Agreement
7. 1 Motor Insurers' Information Centre
"For any motor insurance business transacted by the Broker with the Companies, to enable the Companies to meet regulatory obligations to pass on required information to the Motor Insurers' Information Centre, the Broker will use best endeavours to ensure that all relevant details of the insurance are provided to the Companies within such period of the commencement of the insurance cover, or of notification from the policyholder of any change to the vehicle(s) / person(s) covered, as the Companies may specify from time to time."
"For motor renewals, if the Broker does not receive an instruction from the policyholder to proceed with renewal, the Broker will return the renewal confirmation and certificate to the Companies within such period after renewal date as the Companies may specify from time to time."
This clause makes no specific reference to the 24 hours / five days outlined herein, because time periods specified by MID will change over time.
