Assigned risk
| Part of the common law series |
| Tort law |
|---|
| (Outline) |
|
Trespass to the person |
| Property torts |
| Dignitary torts |
| Negligent torts |
| Principles of negligence |
| Strict and absolute liability |
| Nuisance |
| Economic torts |
|
| Defences |
| Liability |
| Remedies |
| Other topics in tort law |
|
| By jurisdiction |
| Other common law areas |
|
Assigned risk is a government-required method of providing
United States
Within the United States, several state governments have laws compelling insurers to provide
Motor vehicle insurance
In the United States, a
High risk drivers are often undesirable to insurance companies, and may not be able to purchase insurance through conventional means.
Several states in the U.S. have such assigned risk systems.[5] New York is a typical system.[6] The MVAIC, or Motor Vehicle Accident Indemnity Company, may assign high-risk drivers, and pays for victims of uninsured or underinsured motorists.[7] Uninsured means the driver or owner of a motor vehicle has no insurance at all, while an underinsured person has insurance, but the coverage is insignificant compared to the potential damages accrued from a tort lawsuit.[8][9]
See also
- Insurance
- Insurance companies
- Motor vehicle
- Surety
- Underinsured
References
- ^ a b "Assigned Risk". Legal Information Institute. Cornell Law School. June 2021. Retrieved February 28, 2022.
- ^ Ballentine's Law Dictionary, at 36.
- ^ "See the Rupp's definition on the CCH website". Archived from the original on 2007-04-30. Retrieved 2007-04-12.
- ^ Under N.Y. Law, a driver can be suspended after accumulating 11 points in 18 months: [1]
- ^ For example, New York, see article text, California:[2] and Minnesota:[3]
- ^ N.Y. Insurance Law, Article 52; to locate the law online, search under "Bill search and Legislative materials" at [4] under INC, article 52.
- ^ MVAIC web site
- ^ Notice of intent Archived January 24, 2007, at the Wayback Machine
- ^ MVAIC forms