assigned risk

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assigned risk

A higher-than-average (actuarial) risk that insurance companies are required by law to assume, such as insuring cigarette smokers, or malpractice insurance for doctors with “prior experience” (a euphemism for a history of prior claims).
References in periodicals archive ?
14 An assigned risk plan is an involuntary market mechanism in which people can apply to the plan for coverage and have coverage assigned to an insurer in the state at a regulated rate.
16 The New Jersey joint underwriting association, which accumulated a $3 billion deficit in the 1980s, is being replaced by an assigned risk plan.