MLchartDataset catalogue

Assigned risk

Term · Law · MLC-T-LAW-000589

An applicant for insurance who is considered a poor risk and is therefore unable to obtain coverage through normal channels. State law requires insurers to accept a proportionate share of these applicants, who are distributed through a shared market mechanism or pool. This system is common in automobile insurance for drivers with poor records but also applies to other types of liability coverage.

Table 1. Record
IdentifierMLC-T-LAW-000589
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000589",
  "term": "Assigned risk",
  "field": "Law",
  "definition": "An applicant for insurance who is considered a poor risk and is therefore unable to obtain coverage through normal channels. State law requires insurers to accept a proportionate share of these applicants, who are distributed through a shared market mechanism or pool. This system is common in automobile insurance for drivers with poor records but also applies to other types of liability coverage.",
  "url": "https://mlchart.com/terminology/law/assigned-risk/"
}

Record 376 of 5,441 in Law terminology (MLC-0107). Request the full dataset.