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North Central Illinois | He did mention it but here is where maybe I misunderstood him. I took it to mean that the FCIC administers or oversees the reinsuring which goes out to other places. That was how I took it. Is that incorrect? Your absolutely right though it ultimately falls back on the federal government if everything else fails. The FCIC is not doing the actualing reinsuring. They are just overseeing it. If both the insurer and the reinsurer fail then and only then the FCIC would step in and back the claim. Is that correct?
Okay just read your repsonse up above. That answers my questions and clears up a few more things. I wondered if I lost something in the translation when we were going over all of that stuff. I am going to talk to him again next week and make sure we are all on the same page. Bottom line though is that the claims will get paid and that is what the thread was orginally about.
Edited by Illinois Steve 7/7/2012 14:28
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Crop Insurance Companies Going Bankrupt?
