Facilities, such as assigned risk plans and FAIR Plans, that exist to provide coverage for those who cannot get it in the regular market. Insurers doing business in a given state generally must participate in these pools. For this reason the residual market is also known as the shared market.

"Residual Market" In Context

"And also what we are seeing is their truly making some big changes to become a residual market. The market of last resort as it was designed to be. They have recently enacted, where to go into Citizens you have to show the proof that you don’t have a ..."