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assigned risk

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
as·signed risk (-snd)
n.
A poor risk that an insurance company is compelled to cover under state laws.


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Last year, Kingsway acquired the assigned risk business of the Robert Plan Corp.
and then use these claims to raise your premium or even worse, cancel your car insurance policy making you assigned risk with a substantial premium increase.
Other states that have gone to less regulated markets have seen their assigned risk plans shrink.
 
 
 
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