Assigned risk

Assigned risk is a driver of a motor vehicle or class of such drivers who would be denied insurance coverage by insurance companies but are required to be covered under U.S. state law.[1]

Motor vehicle insurance

The state government, usually the Department of Motor Vehicles, assigns the risky motorists to automobile insurance companies.[2]

High risk drivers are often undesirable to insurance companies, and may not be able to purchase insurance through conventional means.[3] They are considered high-risk because of numerous speeding or other traffic tickets, or a recent history of motor vehicle accidents, or in states that have a point system, accumulation of so many points. The state DMV point system may be different from the insurance companies' point system.[4]

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]

gollark: lyricly LyricLy
gollark: The $5 price for Pi0s is actually a lie.
gollark: It's kind of funny that the entire RPi3 GPU has less throughput than a single core of my CPU.
gollark: Exactly.
gollark: > The VideoCore IV GPU, in the configuration as found in the Raspberry Pi models, has a theoretical maximum performance of 24 GPFLOS and is therefore very powerful in comparison to the host CPU. The GPU (which is located on the same chip as the CPU) has 12 cores, able of running independent instructions each, supports a SIMD vector-width of 16 elements natively and can access the RAM directly via DMA.So obviously ALL should write code for the VC4.

See also

References

  1. See Free Dictionary, citing the American Heritage Society dictionary.
  2. Ballentine's Law Dictionary, at 36.
  3. "See the Rupp's definition on the CCH website". Archived from the original on 2007-04-30. Retrieved 2007-04-12.
  4. Under N.Y. Law, a driver can be suspended after accumulating 11 points in 18 months:
  5. For example, New York, see article text, California: and Minnesota:
  6. N.Y. Insurance Law, Article 52; to locate the law online, search under "Bill search and Legislative materials" at under INC, article 52.
  7. MVAIC web site
  8. Notice of intent Archived January 24, 2007, at the Wayback Machine
  9. MVAIC forms

External sources

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.