Eligible Firm definition
Examples of Eligible Firm in a sentence
If a Firm in Default is not an Eligible Firm, it must either obtain Qualifying Insurance in the open market, or cease carrying on Practice and make an application to the Assigned Risks Pool for run- off cover in accordance with Rule 5.2.
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 this Rule 10 to enter the Assigned Risks Pool.
A Firm which was not previously eligible to join the Assigned Risks Pool will not necessarily become an Eligible Firm by virtue of changes in the composition of a Firm.