Assigned-risk insurance

Assigned-risk insurance,

Definition of Assigned-risk insurance:

  1. 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.

Meaning of Assigned-risk insurance & Assigned-risk insurance Definition