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 ?
While disappointed with the level of the advisory base rates and assigned risk rates as ordered by the Commission, NCCI has evaluated the many issues and opted to forego additional Supreme Court review this time, she said.
We assigned risk values to specific vegetation types on the basis of results from that study and Jorgenson et al.
The first parameter, [[micro].sup.k.sub.1], is fixed at 0.2 for the assigned risk fund but represents an ex ante choice variable for the insurance company with respect to the commercial and developmental funds.
Of course more companies found themselves in the assigned risk pool during the recent recession, but SAIF still remains the best hope many new, small and struggling companies have to get this essential insurance coverage that is required by law.
Since 1966, State Farm's standard contract with agents provided that fulfilling it "shall be your principal occupation, and you will not directly or indirectly write or service insurance for any other company, other than a State Farm affiliate or through an assigned risk plan, or for any agent or broker, except in accordance with the terms of any written consent we may give you."
Lu-Yau assigned risk based on the rate of nonlocalized prostate cancer seen in men who underwent PSA screening at least once every 12 months.
The state legislature drew the blueprint for HEMIC in 1996 by passing Act 261, created to assist companies placed in the workers compensation "assigned risk pool" - usually consisting of firms that can't buy insurance because of intrinsically hazardous working conditions or high pay rates.
Federal Armored Express left the states' assigned risk pools and funds and switched to a private insurance shared-risk policy where it bears the risk up t $7 million.
He said the bill had not gone far enough in setting up managed care, streamlining dispute resolution and lowering costs in the assigned risk pool.
government-sponsored agencies are assigned risk weights of 0 and 20 percent respectively because of the low degree of credit risk.
The establishment of the Florida Workers Compensation Joint Underwriting Association was a major accomplishment in the state given the crippling workers' comp environment under the old Assigned Risk Plan approach.