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 ?
Noncompliance may lead to fines, a camp's inability to secure workers compensation insurance outside of assigned risk plans, which have higher rates and surcharges, and payment of damages for injuries to employees that come out of company assets or current camp income.
In a state represented by one association, issues like no-fault and assigned risk plans are discussed with all members and the association's position is based on the decision of the board made up solely of voting members who represent the overall membership.
Other states that have gone to less regulated markets have seen their assigned risk plans shrink.
The existence of this exemption allows companies to exchange critical data regarding losses and other factors, facilitates the development and operation of assigned risk plans, facilitates participation and oversight of state guarantee funds, permits state control over liquidations of insurers, and promotes competition in the marketplace," Gackenbach says.
In states with workers' comp assigned risk plans, insurance company management must evaluate the relative merits of being a direct assignment carrier vs.
This study analyzes the differences between the two major forms of automobile residual market facility used in the United States: assigned risk plans (ARPs) and joint underwriting associations (JUAs).
Burnes, however, has said she has seen no evidence to support claims that the assigned risk plans would grow that large.
11 caused the first overall industry loss in 2001, familiar challenges are predominantly featured in this cycle's plot, from rising loss costs to repopulation of assigned risk plans to a shortage of underwriting talent.