Written by  //  June 24, 2011  //  Insurance Glossary: N-S, Insurance Terms  //  No comments

A group, association or pool of insurance companies who join economic forces to provide coverage that may be of such total value or high hazard that it can be covered more safely on a cooperative basis. An example is the Auto Assigned Risk Plan in each state, which provides basic limits of liability auto coverage for drivers with bad driving experience.

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