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 base rates and assigned risk rates became effective Jan.
Last year, rates in New Hampshire fell 9 percent on the voluntary market and 9.4 on the assigned risk market.
In Alaska, insurance carriers typically place newer and smaller employers in an assigned risk pool.
Assigned risk values decreased as MAAT increased above (or decreased below) the threshold range (see Fig.
They assigned risk based on ethnicity of the parents, as some groups are more prone to heart disease than others.
Due to General Construction's loss history and apparent inattention to safety, its workers' compensation insurer cancelled coverage at the end of 2011, forcing General Construction into the assigned risk pool.
In Washington state, one of those milestones is the percentage of agencies that assigned risk management responsibilities to a specific employee over defined time periods.
The government's share of the loss depends on the share of funds an insurer has put in the Assigned Risk fund--where the FCIC takes on most of the risk--or the Commercial fund, where the insurer takes on a substantial amount of the risk, Ashenbrenner said.
As a result of the controls, insurers exited markets and assigned risk pools swelled.
During his twelve years with AIG, Robert held various senior management positions including overall responsibility for the e-wC, Middle Market, Assigned Risk and USL&H segments.
Recommendation: To strengthen the ATSDR's policies and procedures, and ensure that they provide reasonable assurance of public health product quality, the director of ATSDR should develop policies and procedures to ensure that a risk assessment is conducted at the time site-specific work is initiated, and that any assigned risk level be reevaluated throughout product preparation to ensure that it remains appropriate.
The Society said that as a result of these problems, there could be more firms requiring cover in the Assigned Risk Pool (ARP), which provides emergency PII for a maximum of two years in any five for firms unable to buy cover in the conventional market.