Some drivers, however, have poor driving records and may not be able to obtain coverage because theypresent too much of a risk. Insurance regulators will require insurance companies to pool together and accept the assigned risk, even if the insurers don’t want to provide acommercial policy. T...
assigned risk如何读 英:[əˈsaɪnd] 美:[əˈsaɪnd] assigned risk是什么意思 强制接受的保险业务 assigned risk英英释义 noun a poor risk (such as an accident-prone motorist) that insurance companies would normally reject but are forced to insure by state law ...
Assigned risk insurance (ARI) is a type of insurance offered in many states, primarily on the individual and commercial level, where an insurer is assigned to provide coverage to individuals or businesses who are unable to obtain it in the standard insurance market. Insurance companies must partic...
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The Solicitors Regulation Authority (SRA) said that, as at October, 7,418 firms had applied to enter the Assigned Risks Pool (ARP) which provides cover for highrisk firms. opinion; Maxwell Hodge's Martin Unsworth on indemnity insurance premiums More results ► Dictionary browser ? ▲ asshat...
This is where assigned risk comes into play. Assigned risk, also known as the residual market, is a system designed to ensure that high-risk individuals can still obtain insurance coverage. It is a state-mandated program that requires insurance companies to accept a certain number of high-risk...
Assigned Risk Plan Also found in:Financial,Acronyms. 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. ...
1. A driver of an automobile who isuninsurable(usually because of a poor driving record), but is required, by law, to haveautomobile insurance. States assign their uninsurable drivers to insurance companies, which must providecoverage(known asautomobile assigned risk insurance), though the companie...
Auto insurance rates to drop; first since 1973 The 42.1 percent loss in Arkansas can be attributed to the state's assigned risk plan. The pool is a last resort for companies labeled as bad insurance risks or firms that simply cannot find workmen's compensation insurance on the open market....
Ben Abelson