This market is created by state law and exists to provide auto insurance to people who cannot buy it through the usual channels.Identify this market.
A)Residual market
B)Unshared market
C)Reinsurance market
D)Substandard market
E)Voluntary market

Question

Quizplus · Accepted Answer

The residual market is designed to provide insurance to individuals who are unable to obtain coverage through standard channels, often due to a high risk associated with them. This market ensures that such individuals can still access necessary insurance coverage, like auto insurance, as mandated by state laws.

This Market Is Created by State Law and Exists to Provide