assigned-risk insurance definition

assigned-risk insurance

Liability coverage for certain individuals (such as reckless drivers) who cannot buy conventional insurance policies due to their adverse record. They are assigned by the government to insurance companies (who charge higher than normal premium rates to sell them insurance) so that their victims may be fairly compensated.

assigned-risk insurance is in the Disaster Planning & Risk Management and General, Marine, & Life Insurance subjects.

assigned-risk insurance appears in the definition of the following term: assigned risk

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