What type of coverage is typically not available directly from private insurance carriers?

Residual Market Coverage is a type of insurance that is typically not available directly from private insurance carriers. It is designed to provide coverage for individuals and businesses that are deemed too high a risk for the standard market. This type of coverage is generally put into place to ensure that essential services and protections are available to those who cannot secure insurance through traditional means.

Residual markets are often established by state governments or industry associations and include programs like assigned risk plans, which provide insurance to drivers who cannot obtain coverage due to a poor driving record. As such, this type of coverage is not widely offered by private insurers because they typically avoid high-risk clients to maintain their profitability.

Other types of coverage listed, such as standard insurance, umbrella policies, and commercial insurance, are widely available from private carriers that cater to various market segments, providing a multitude of policy options depending on the risk and needs of the insured.