Assigned Risk

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Assigned Risk

A danger or hazard of loss or injury that an insurer will not normally accept for coverage under a policy issued by the insurer, but that the insurance company is required by state law to offer protection against by participating in a pool of insurers who are also compelled to provide coverage.

assigned risk

n. a person whose official driving record (accidents and tickets) is so poor that he/she cannot purchase commercial auto insurance, and must be assigned to a state operated or designated insurance program at high rates.

References in periodicals archive ?
The Robert Plan is a dominant service provider for assigned risks in the U.
AutoOne is growing in response to demand from our business partners, who want a stable, financially secure and experienced Assigned Risk servicing carrier for their long-term needs," said Carey Benson, AutoOne's CEO and President.
AutoOne Insurance, an insurance company that accepts Assigned Risks on behalf of its client insurance companies, has been approved as a servicing carrier to write personal auto assignments in eight new states and to write commercial auto assignments in three new states.
June 14 /PRNewswire/ -- AutoOne Insurance, a Limited Assignment Distribution (LAD) servicing carrier accepting assigned risks on behalf of client insurance companies, announced today that they are expanding their LAD services into other states and new markets.