What is the assigned risk market (also known as the “alternative residual market “) and why do I have to be in it?
The assigned risk market is a mechanism that has been set up to ensure that employers can obtain workers’ comp coverage if they are in good faith entitled to workers’ comp coverage, but cannot secure such coverage through ordinary means. Many employers are in this market because they are engaged in an inherently risky industry, have bad loss experience, are too small and/or are just starting a new business. Travelers Commercial Casualty currently administers the assigned risk market and can be reached at 800-842-9346 (to obtain a quote, press “0” for an operator.
