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Am I obliged to accept my insurance offer if I don't get accepted by my firm?
But you can try contacting your CF, or alternatively go into Adjustment/Clearing. Your CI university will likely release you if asked, because they don't want to admit unhappy students. Bear in mind that if you don't reach the entry requirements of your firm, your chosen university will not automatically reject you, they will have decided to so will unlikely be willing to consider you.
You should not worry about Results Day at this stage. You might get the grades needed, or your CF university might accept you if you narrowly miss the offer.