What does Assigned-Risk Insurance mean? Read on to discover the definition & meaning of the term Assigned-Risk Insurance - to help you better understand the language used in insurance policies.
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.
We hope the you have a better understanding of the meaning of Assigned-Risk Insurance.