assigned risk Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “assigned risk” in the English Dictionary

"assigned risk" in Business English

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assigned risknoun [C]

uk   us   US
INSURANCE a ​person who is ​refusedinsurance because of their previous ​record and must ​buyinsurance from particular ​insurancecompanies who can ​charge them more ​money: assigned risk insurance/plan Stateinsuranceregulationsrequireproperty and ​casualtyinsurers to ​participate in ​assignedriskplans to ​providehigh-riskcases with basic ​insurancecoverage.
(Definition of assigned risk from the Cambridge Business English Dictionary © Cambridge University Press)
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