The Assigned Risk Plan shall: (1) Include rules for the classification of risks and rates therefor. (2) Provide for the installment payment of premiums subject to customary terms and conditions. (3) Provide rules for the equitable apportionment among participating insurers of clean risks who shall be eligible to receive the insurer's voluntary rate. (4) Provide rules to specify the effective date and time of coverage, provided that applicants may only obtain coverage effective as of the date and time of the application if the agent or broker of record uses electronic mail binding procedures specified in the rules. (Feb. 7, 1990, P.L.11, No.6, eff. July 1, 1990)
Pennsylvania Legal Code