The insurance industry plays a crucial role in mitigating risks and providing financial protection to individuals, businesses, and communities. However, accessing traditional insurance coverage sometimes can be challenging due to high-risk factors, geographical limitations, or unique circumstances. Residual market plans operate as the market of last resort. The Personal Insurance Federation of California, an association of property and casualty insurers, recently commissioned Milliman to research the assessment and recoupment mechanisms of residual market plans in the United States. Our resulting report is organized as follows:

• Background
• Scope, methodology, and data
• Key findings
• Detailed findings
• Appendices

This report was commissioned by Personal Insurance Federation of California