Assigned Risk Plan

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Assigned Risk Plan

1. An insurance plan for drivers who otherwise would not be able to obtain automobile insurance. Each state in the U.S. requires insurers to offer automobile assigned risk insurance, at a higher premium than traditional insurance. States assign uninsurable drivers to insurance companies, which must provide coverage. This helps people who, by law, must obtain automobile insurance, but are unable to do so because of poor driving records or other reasons. Critics contend it drives up premiums for all policyholders.

2. In workers' compensation, an insurance plan for workers who perform labor considered so hazardous that an insurance company ordinarily would not insure the worker's place of employment. As with automobiles, states assign uninsurable workers to insurance companies, which must provide coverage, often at higher premiums.
References in periodicals archive ?
In continental legal systems, the principle of specificity has traditionally required that the assigned claims be specifically identified or at least arise out of a specified existing relationship.
This would occur, for example, if the parties to a securitization assignment chose the law governing the assigned claims to determine its third-party effects but the same claims were the subject of a competing assignment in a factoring or secured lending transaction or in a different securitization in which no choice of law was made.
Thus, even if they prefer application of the law governing the assigned claims, they will still need to take whatever steps are necessary under the law of the assignor's location to ensure they have a first-ranking priority.
The key behavioral response estimated is the elasticity of volume with respect to receipts per service for Medicare-covered services [E(vol:rec)].(2) Medicare receipts are a function of allowed amounts on assigned claims, billed amounts on unassigned claims, and the assignment rate -- which might itself change in response to changes in Medicare's payment rates.
Once these fundamentals are mastered, this knowledge can be put to use across virtually all types of assigned claims.
* Audit claim files to determine that the assigned claims analyst has reviewed and conducted an initial evaluation of a claim within thirty days of receipt of a claim.
The Nodells then brought suit on the assigned claims against Chaussee's insurer, broker, and insurance defense counsel.
For example, where the defendant's liability insurer wrongfully denies coverage, the plaintiff who settles with the defendant and then establishes coverage on an assigned claim against the defendant's insurer may be able to obtain a tort settlement from the defendant as well as supplemental damages for indemnity, litigation costs, and attorney fees from the insurer.
By bringing an assigned claim against the defendant's insurer, Warren obtained satisfactory compensation even though his underlying tort claim had been whittled away by affirmative defenses, liens, and other factors.
Instead of an adjuster being in control of the assigned claims, contract repairers or other outside service providers take charge of claims.
The child's family agreed not to collect damages from Dolan and Eleanor Lancaster, except as necessary to prosecute the assigned claims. The claims went to arbitration and the arbitrator found the Lancasters' liability to be $474,330.
Defense counsel must obtain prior approval of the assigned claims professional after extensive discussion as to the chance of prevailing on such a motion.