Assigned Risk Plan


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Assigned Risk Plan

An insurance plan created and imposed by state statute under which persons who normally would be denied insurance coverage as bad risks are permitted to purchase insurance from a pool of insurers who must offer coverage to such individuals.

References in periodicals archive ?
Year 2001 saw our first increase in the assigned risk plan rates while experiencing a decrease in the voluntary market," Dan Honey, deputy commissioner of the Arkansas Insurance Department, said.
If the pool mechanism is an assigned risk plan, f equals 1.
The New York State Insurance Department directed and encouraged the assigned risk plan Governing Committee over the years to implement various programs designed to depopulate the plan, such as the Territorial Take-Out Program.
Romney wanted high-risk drivers to be randomly assigned to a particular carrier, a so-called assigned risk plan.
1 percent loss in Arkansas can be attributed to the state's assigned risk plan.
The WCRA/MWCIA lawsuit against AIG is in addition to litigation by the Minnesota Attorney General to determine losses suffered by the Minnesota Department of Revenue, the Minnesota Insurance Guaranty Association and the Minnesota Assigned Risk Plan.
In fact, after more than three years of dramatic 30+% declines in the Assigned Risk Plan volumes, the most recent four week results indicate that volumes may be bottoming out.
States, drivers who cannot obtain insurance in the voluntary market are placed in an assigned risk plan.
Service revenue from the Minnesota Assigned Risk Plan (ARP) declined 15.
Although New York's Assigned Risk Plan was intended as a last resort for drivers who were unable to find insurance coverage anywhere else, it was approaching half a million drivers in 2003.
The contract gives Companion 20 percent of the total assigned risk plan.
The contract allows Companion to retain work from a previous contract and increases its share from 35 percent to 45 percent of the total assigned risk plan.