assigned risk

American  

noun

Insurance.

1. a risk that, under state law, is assigned to an insurer from a pool of insurers who would not otherwise accept it.

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Etymology

Origin of assigned risk

First recorded in 1945–50

Example Sentences

Investigators assigned risk scores to 294 embassies, consulates and other facilities with a combined property value of approximately $70 billion, GAO said.

From Scientific American • Dec. 1, 2022

Niedringhaus said the cost to cover 85 scholarship football players at Northwestern would be about $1.5 million annually, through Illinois’s assigned risk pool.

From New York Times • Apr. 25, 2014

But applicants who are rejected for auto or housing policies can generally get at least some insurance at higher rates through assigned risk pools.

From Time Magazine Archive