meaning of assigned risk plan

assigned risk plan meaning in Insurance Dictionary

a technique of supplying insurance needed by state insurance codes for all those dangers which can be unsatisfactory in normal insurance coverage market. Every state, with the exclusion of these which can be monopolistic, has actually a workers payment assigned danger plan, which can be often a stand-alone entity or area of the competitive condition investment. All insurers writing workers payment protection in the voluntary insurance coverage market must be involved in the program.