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.

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Those that don't are forced into the Assigned Risks Pool administered by the Law Society.
LEGAL & FINANCE : Cost of cover for solicitors hits pounds 2m
Two reliable studies have since validated the assigned risks against the observed prevalence of Down syndrome in screened populations (9, 19).
Outcome validation of the Beckman Coulter access analyzer in a second-trimester down syndrome serum screening application
Large involuntary markets will result, which in turn will discourage the use of assigned risk plans, as opposed to alternative mechanisms such as reinsurance facilities or joint underwriting associations.(14) Empirical evidence supports this conjecture: States with the largest involuntary markets (Massachusetts, New Jersey, New Hampshire, North Carolina, and South Carolina) generally have significant limits on rate classification.(15) They also have used reinsurance facilities or joint underwriting associations--as opposed to assigned risk plans.(16)
The economics and politics of automobile insurance rate classification

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