State Insurance Policies

Assigned Risk
In automobile insurance, 'assigned risk' refers to a classification of drivers to whom insurance companies will not issue policies voluntarily due to their high-risk profile, commonly resulting from a history of accidents or violations. These individuals are assigned to insurance companies by state law and are required to pay higher premiums.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.