assigned risk

assigned risk
assigned risk n: a poor risk (as an accident-prone driver) that insurance companies would normally reject but are forced to insure by state law

Merriam-Webster’s Dictionary of Law. . 1996.

assigned risk
n.
In automobile insurance, a category of drivers that insurers would not choose to cover due to their poor driving records or other risk factors, but that the insurers are required by statute to insure.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


assigned risk
A driver with a poor record who would normally be denied coverage by insurance companies, and who is assigned to a state operated or designated insurance program.
Category: Personal Finance & Retirement

Nolo’s Plain-English Law Dictionary. . 2009.


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.

Dictionary from West's Encyclopedia of American Law. 2005.


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.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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.

Law dictionary. . 2013.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Assigned risk — means a driver of a motor vehicle, or a class of such drivers, who would be denied insurance coverage by insurance companies, but are required to be covered under U.S. state law. [See [http://www.thefreedictionary.com/assigned+risk Free… …   Wikipedia

  • assigned risk — UK US noun [C] US ► INSURANCE a person who is refused insurance because of their previous record and must buy insurance from particular insurance companies who can charge them more money: assigned risk insurance/plan »State insurance regulations… …   Financial and business terms

  • assigned risk — noun : a risk that qualified underwriters of workmen s compensation or automobile liability insurance would reject under applicable standards but accept so as to permit compliance with state law, the insurance being handled through a pool of… …   Useful english dictionary

  • assigned risk — As relating to motor vehicles nuisance, a risk which is not ordinarily acceptable to insurers but for which coverage is required by state statute and which is, therefore, assigned to insurers participating in an assigned risk pool …   Black's law dictionary

  • assigned risk — As relating to motor vehicles nuisance, a risk which is not ordinarily acceptable to insurers but for which coverage is required by state statute and which is, therefore, assigned to insurers participating in an assigned risk pool …   Black's law dictionary

  • 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.… …   Law dictionary

  • assigned risk — Insurance. a risk that, under state law, is assigned to an insurer from a pool of insurers who would not otherwise accept it. [1945 50] * * * …   Universalium

  • assigned risk — noun Date: 1946 a poor risk (as an accident prone motorist) that insurance companies would normally reject but are forced to insure by state law …   New Collegiate Dictionary

  • assigned risk plan — In those states having compulsory motor vehicle insurance laws (i.e. financial responsibility laws), such statutes provide that persons who are otherwise unable to buy coverage (because of, e.g., poor driving records) may secure insurance through …   Black's law dictionary

  • assigned risk plan — In those states having compulsory motor vehicle insurance laws (i.e. financial responsibility laws), such statutes provide that persons who are otherwise unable to buy coverage (because of, e.g., poor driving records) may secure insurance through …   Black's law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”