No. of Recommendations: 0
I'm not defending the current administration and I haven't actually read the legislation, but isn't there a substantial ceiling for the losses necessary for this "government reinsurance" to kick in? I'm guessing that it wouldn't kick in until losses mounted to the point where the industry was in jeopardy anyway - in which the government would have to intervene anyway. Seems to me like they're just formailizing what would happen in the event catastrophic losses occured.

The comments to the effect "then why haven't premiums gone down" I agree with.

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