Final answer:
Residual market insurance programs are designed for consumers with high-risk profiles who cannot find coverage in the standard insurance market. These programs provide insurance options for high-risk activities or situations.
Step-by-step explanation:
Residual market insurance programs are primarily designed to meet the needs of consumers with high-risk profiles who are unable to obtain coverage in the standard insurance market. These programs provide insurance options for individuals or businesses that have been denied coverage or are unable to find affordable coverage in the regular insurance market. They typically offer coverage for high-risk activities or situations that may not be covered by standard insurance policies.