Common use of The Assigned Risks Pool Clause in Contracts

The Assigned Risks Pool. 8 Where a firm carrying on a practice has not obtained qualifying insurance outside the assigned risks pool in respect of any indemnity period or part thereof to which these rules apply it must, if an eligible firm apply in accordance with the procedure set out in rule 11 to enter the assigned risks pool, subject to rule 9, before the start of the relevant indemnity period. 9 A firm about to start carrying on a practice which has not already obtained qualifying insurance outside the assigned risks pool may, if an eligible firm, apply to enter the assigned risks pool after the start of any relevant indemnity period. A firm must not start carrying on a practice without either having obtained qualifying insurance outside the assigned risks pool or, alternatively, in the case of an eligible firm, without having applied in accordance with the procedure set out in rule 11 to enter the assigned risks pool.