New partnership aims to help lenders tackle uninsured drivers

The Finance and Leasing Association (FLA) has announced a new partnership between motor finance companies and the Motor Insurers’ Bureau (MIB).

Motor finance lenders, who are members of the FLA, are being given access to the motor insurance database (MID) from this month.

Lenders will be able to check the central database of all insured vehicles in the UK and satisfy themselves that a vehicle has the appropriate insurance cover, as required under the motor finance credit agreement.

The partnership will also help lenders to improve road safety and to prepare for the Continuous Insurance Enforcement regulations that will come into effect from late Spring this year.