When is an underwriter allowed to make decisions based solely on MIB codes?

Underwriters must always conduct a comprehensive assessment when evaluating an insurance application, and this includes considering various pieces of information beyond just the MIB (Medical Information Bureau) codes. The MIB codes provide useful insights regarding an applicant's medical history and any previous underwriting decisions made by other insurers. However, relying solely on these codes can lead to incomplete evaluations of an applicant’s risk profile.

It's crucial for underwriters to gather a full context of the applicant’s health status and other relevant factors. This often involves further investigation, which may include obtaining additional medical records, conducting interviews, or requesting further details from the applicant. The practice of making decisions based only on MIB codes could result in unfairly denying coverage or misassessing an applicant's risk, which is why thorough due diligence is paramount in the underwriting process.