Northern Nebraska | Joe R - 10/14/2023 19:22
It’s been comical to listen to the insurance price conspiracy theory’s the last few weeks by those that have zero idea how it works. I applaud you for acknowledging you don’t understand it. The insurance companies have zero skin in the Revenue Protection/MPCI policies. They are the administrators of the program and handle the paperwork, and get compensated for doing so. The federal government (RMA) is the agency where the funds come and go. The theory that price has to rally or insurance companies will go broke is false.
Is that how it works or are the insurance companies just reinsured through the fcic? If they were just middle men on commission why are there quarterly audits on the insurance companies financial statements? Why are they obligated to have cash reserves of ten percent? |
Insurance price
