assigned risk


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as·signed risk

(ə-sīnd′)
n.
A poor risk that an insurance company is compelled to cover under state laws.
References in periodicals archive ?
Losses in the assigned risk market--for those companies whose losses are so great that they can't purchase workers' comp on the voluntary market--went down 10.
The most recent rate change for the Assigned Risk Plan was in August 1990 when an 11.
an insurance and risk service company associated with First Arkansas Insurance-Pine Bluff and a past president of the Independent Insurance Agents of Arkansas, where he once co-chaired the IIAA Workers Compensation Special Market Committee and worked for changes in the Arkansas workers' compensation law and the Arkansas Workers Compensation Assigned Risk Plan.
1 percent for the assigned risk pool), according to Dave Kester, CPU, a senior account executive with Alaska USA Insurance Brokers.
They assigned risk based on ethnicity of the parents, as some groups are more prone to heart disease than others.
The bills would establish a new residual workers'-comp market and would give the state-insurance department the authority to set up an assigned risk plan, he said.
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.
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.
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.
Last year, Kingsway acquired the assigned risk business of the Robert Plan Corp.
For each state in which the insurance company does business, there is a separate assigned risk fund, developmental fund, and commercial fund.