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 ?
Assigned risk plans operate in 42 states and Washington D.
If reinsurance facilities did not allow insurers to reinsure any of their business, they would be similar to assigned risk plans.
based in Minneapolis, Minnesota, provides disability and absence management services, primarily directed at workers' compensation to: (i) employers insured through our wholly-owned insurance subsidiaries, American Compensation Insurance Company (ACIC) and Bloomington Compensation Insurance Company (BCIC); (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
RTW provides disability and absence management services to employers, self insured employers, state assigned risk plans, and insurance carriers throughout twenty three states with primary operations in Minnesota, Michigan and Colorado.
based in Minneapolis, Minnesota, provides disability and absence management services, primarily directed at workers' compensation to: (i) employers insured through our wholly-owned insurance subsidiaries, American Compensation Insurance Company and Bloomington Compensation Insurance Company; (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
based in Minneapolis, Minnesota, provides disability and absence management services, primarily directed at workers' compensation to: (i) employers insured through our wholly-owned insurance subsidiaries, ACIC and BCIC; (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
RTW is a leading provider of products and services to cost-effectively manage insured workers' compensation programs and self-insured absence programs, Based in Minneapolis, Minnesota, we provide disability and absence management services, primarily directed today at workers' compensation to: (i) employers insured through our wholly-owned insurance subsidiaries, American Compensation Insurance Company (ACIC) and Bloomington Compensation Insurance Company (BCIC); (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
based in Minneapolis, Minnesota, provides disability management services, primarily directed at workers' compensation to: (i) employers insured through our wholly-owned insurance subsidiaries, American Compensation Insurance Company (ACIC) and Bloomington Compensation Insurance Company (BCIC); (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
based in Minneapolis, Minnesota, provides disability management services, primarily directed at workers' compensation to: (i) employers insured through our wholly-owned insurance subsidiaries, ACIC and BCIC; (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
Nasdaq:RTWI), based in Minneapolis, Minnesota, provides disability management services, primarily directed at workers' compensation, to: (i) employers insured through its wholly-owned insurance subsidiary, American Compensation Insurance Company; (ii) self-insured employers on a fee-for-service basis; (iii) state assigned risk plans on a percent of premium basis; (iv) other insurance companies; and (v) agents and employers on a consulting basis, charging hourly fees.
Due to the soft insurance market, participants are being attracted to leave the Minnesota Assigned Risk Plan ("ARP") by standard market insurers resulting in a decline in ARP premiums and a resulting decline in service revenue to us.
Premiums continued to decline in the Minnesota Assigned Risk Plan ("ARP") and as a result, service revenue from the ARP decreased 33% in the fourth quarter of 2005.