Breadcrumb Home > Dictionary > Index A assigned risk: Meaning and Definition of Find definitions for: assigned' risk' Pronunciation: [key] — Insurance. Insurance. a risk that, under state law, is assigned to an insurer from a pool of insurers who would not otherwise accept it. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. assigned counsel assignee ✖ Related Content Daily Word Quiz: tautology Analogy of the Day: Today’s Analogy Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language