Banks, like planes, must keep their balance or crash Sep 17, 2008
The new requirements assigned risk weights to different asset types. It then required bank capital to exceed a minimum percentage of the overall amount of risk-weighted assets. (Business Report, South Africa)
Lodi agent and broker John Fairchild Sr. wants to educate and relate before covering clients Aug 23, 2008
The government even has a thing called "assigned risk," meaning nobody wants him, but somebody has to take him. And every company has to share in that pool. (Lodi News Sentinel, CA)
Task force became task farce Jun 30, 2008
The Medical Malpractice Liability Advisory Task Force was set up last year by former Gov. Eliot Spitzer to come up with ways to resolve what was said to be a $525 million deficit faced by the Medical Malpractice Insurance Plan, an assigned risk pool for doctors with spotty malpractice track records. MMIP was the successor to another plan that had built up a surplus of close to $1 billion, but which Govs. (Albany Times Union)
Photo by David Wall/Daily Journal The Richmond County Board of Health honored recipients of the Golden “A” Award Tuesday, during a reception at Washington Street Elementary School. Apr 18, 2008
Maintain a score of 95 percent or above for each of the inspections required for the assigned risk category. Establishment shall not receive the same recurring critical point violation during a calendar year. (Rockingham Daily Journal, NC)
MDs Carry Malpractice Concerns To Albany Mar 15, 2008
"My malpractice bill used to be like the phone bill. Now it's our biggest bill, bigger than my mortgage, bigger than the lease for my office, or my school loans. It's a huge, huge burden." As previously reported in Suffolk Life, the state's Department of Insurance has said there is a deficit in the assigned risk pool for coverage of malpractice claims in New York, due in part to the suppression of rates. The few insurers willing to carry malpractice in New York have lost a significant amount of... (Suffolk Life Newspapers, NY)
Malpractice Crisis Looms For Area MDs Feb 21, 2008
"The law requires assigned risk doctors to get insurance somewhere," explained Joanne Doroshow, executive director of the Center for Justice and Democracy, and a member of the state's task force. "So, originally, a state fund was set up. But over the years the governors started taking money out of that fund, they disbanded it, and they created a medical malpractice insurance pool so that carriers [insurance companies] could take on responsibility for these doctors. If that money hadn't been... (Suffolk Life Newspapers, NY)
Study calls for black housing amends Jan 21, 2008
While whites could get financial assistance, blacks were excluded because the agencies assigned risk ratings to neighborhoods based on race. Mixed and predominantly black neighborhoods were generally not eligible for loans. (Corvallis Gazette Times, OR)
Low cost insurance program now in Del Norte Jan 3, 2008
The policies are issued by California licensed insurers and the program is administered by the California Automobile Assigned Risk Plan. ALCA is not subsidized by taxpayers; the program is self-sustaining. (Daily Triplicate)
The Fed's Crisis of Confidence Dec 15, 2007
These people who improperly assigned risk to these mortgage securities need to be thrown in jail and pay heavy fines. This is the only fix. (SmartMoney)
More of this story Nov 15, 2007
It would eliminate the Take all Comers law, which says an insurance company cannot refuse to write insurance for any driver, and replace it with a system in which insurance companies can refuse drivers and potentially force them into the new Assigned Risk plan ... I didn t have the heart to tell her that at her age, she will likely do most of her shopping at the Assigned Risk plan. (Patriot Ledger, MA)
Critics hit state auto insurance proposal Aug 30, 2007
Auto insurance is required of all drivers in Massachusetts, though some are in an "assigned risk" pool in which the highest-risk drivers are divided among all the insurers in the state. "I don't think people truly appreciate the impact of what will happen," Wilkerson said. (Boston Globe)
What's driving the new auto insurance plan? Jul 26, 2007
Flying below the press radar, the commissioner adopted a controversial "assigned risk plan" that will allow the insurance companies to reject drivers they consider "undesirable." Consumer groups have consistently opposed this industry-sponsored proposal because it permits insurers to reject drivers by using the same unfair criteria -- credit scores, income, education, home ownership -- that the cover letter attacked. Burnes is playing a shell game: Even if she follows through and prohibits... (Boston Globe)
Driving down AIP rates Jul 26, 2007
Superintendent Eric Dinallo said the rate reduction will result in statewide savings of nearly $20 million for new drivers and others in AIP, also known as the assigned risk plan. AIP is the insurer of last resort for individuals unable to obtain insurance otherwise, generally because they are drivers with little or no prior driving experience or those with poor driving records. (Buffalo Business First, NY)
Insurance unsettlement Jul 18, 2007
But a few years down the road, upward of 1 million Massachusetts drivers could find themselves thrown into an assigned risk pool, randomly assigned to an insurer, and slapped with higher premiums and the loss of discounts, according to the nonprofit group MASSPIRG.. Burnes says she is motivated by a desire to bring lower rates to all consumers with good driving records, regardless of where they live. (Boston Globe)
No need to swerve on insurance Jul 11, 2007
When such companies are in the driver's seat, customers are unfairly relegated to assigned risk pools, in which they are forced to pay the company's preposterous "dirty rates." Faced with premiums they can't afford, more drivers will hit the road uninsured. And no one wants to run into them. (Boston Globe)
Worker compensation rates to decline Apr 29, 2007
Those employers who have not been able to find coverage in the open voluntary market and are in the assigned risk plan will have their rates increased by 4. 9 percent this year. (Rapid City Journal, SD)
'Dirty' auto rates? No thanks Mar 30, 2007
Massachusetts needs no part of national insurers who use credit scores, occupation, homeownership, and other extraneous factors to dump drivers into assigned risk pools where they are forced to pay outlandish "dirty rates.". The report does accept the premise that the state's "private passenger automobile insurance market is ailing, and that some form of competitive rating is essential to attract and retain insurers." One possible solution, according to the authors, is to continue with a fixed... (Boston Globe -- Editorial)
Panel: State shouldn't set all auto rates Mar 27, 2007
Romney had said moving to a so-called assigned risk plan was a necessary first step in overhauling the system ... Burnes must make a decision in April on the Romney administration's assigned risk plan. (Boston Globe)
Patrick halts Romney's auto insurance revamp Jan 20, 2007
Romney saw the creation of a so-called assigned risk plan, where as many as a million drivers would be assigned to carriers, as a preliminary first step toward a competitive rate-setting environment ... After taking office, Patrick fired Romney's insurance commissioner, Julianne M. Bowler, and yesterday ordered the acting commissioner to put rules implementing Bowler's assigned risk plan on hold for 90 days ... Frank O'Brien, vice president and regional manager for the Property Casualty Insurers... (Boston Globe)
Former state senator Nuciforo eyeing commissioner of insurance post Jan 16, 2007
Last week, Patrick fired Julianne M. Bowler, Romney's insurance commissioner, who was implementing an assigned risk plan, in which as many as 1 million of the state's drivers would be randomly assigned to carriers based on market share. The plan marked a radical change from current policy. (Boston Globe)
Patrick doesn't reappoint insurance commissioner Jan 9, 2007
Bowler's decision to move ahead with an assigned risk plan, in which as many as 1 million of the state's drivers would be randomly assigned to carriers based on market share, was strongly opposed by several lawmakers and insurers, who argued that such a radical change should have been put off until Patrick came into office and had time to evaluate it. Patrick officials have been vague about their plans for insurance regulation, with the governor at one point last year saying he hoped to spur... (Boston Globe -- Business)
