I am skeptical of insurance committees

not everyone is going to understand everything all the time. I’m trying to believe that is the case here. but the fact that I can’t seem to follow policy discussions on insurance irks me. when AIG testifies, it scares me.

here’s what I managed to understand from today’s discussion in the House Insurance Committee:

reinsurance is an insurance policy that an insurance company buys in case there is a confluence of events and they don’t have enough money to cover it, so their insurance policy supplements them.

most reinsurance policies require the insurance company to post 100% of the assets they intend to have insured, but some people want the posting rule to be on a scale between 20% and 100%.

AIG really likes that idea a lot.

 

Texas Windstorm Insurance Association policies are for wind and hail damage. they are single payer, but we can’t have single payer health insurance.

 

and that’s it.

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