assigned risk plans Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: assigned risk plans
assigned risk plans

facilities available in all 50 states in which drivers can obtain auto insurance if they are unable to buy it in the regular or "voluntary" market. Every insurer licensed in the state must participate in these facilities, which are also known as joint underwriting facilities. When premiums are too low to cover losses, insurers are usually assessed to make up the difference, and these costs are passed on to all of their customers.

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