Reinsurer! Saskatchewan Is Full of Shit!

[SASKFARMER]

Reinsurer

A reinsurer is a company that provides financial protection to insurance companies. Reinsurers handle risks that are too large for insurance companies to handle on their own and make it possible for insurers to obtain more business than they would otherwise be able to. Reinsurers also make it possible for primary insurers to keep less capital on hand needed to cover potential losses.

-A reinsurer provides insurance to insurance companies.

-The risks of an insurance company are spread out by purchasing insurance from reinsurers.

-Doing business with a reinsurer allows an insurance company to do more business itself by being able to take on more risk than its balance sheet would otherwise allow.

-Insurance companies pay reinsurers premiums in the same manner that individuals pay insurance companies premiums.

-The transfer of risk from an insurance company to an insurer is known as cession.
Reinsurance companies can also buy reinsurance themselves, a term known as retrocession.


Plus Sask Crop insurance makes the gov money most years where is our pat on the back for all the premiums.

Come on its bullshit you guys blaming farmers for this year's drought caused the budget to not look as good.

I call Bullshit.

[bucket]

Would you please pass that memo onto Scott Moe as apparently the dumbphuck didn't get it, read it or understand it.

[Old Cowzilla]

I guess nobody in government has seen the movie the BIG SHORT

[TASFarms]

Sask govt is used to making huge dollars off Sask crop insurance

[SASKFARMER]

We had years of low payouts so the costs for the reinsurance and our premiums were low. But the surplus would also be high if it was left alone. This year once in 50 years would have been covered by that surplus.

I'm a supporter of the sask party but **** boys this is bullshit blaming farmers.

[SASKFARMER]

The System is basically farmers insuring farmers the Prov share and Feds is a joke.

[BTO780]

It’s sad don’t know what else to say. From the first seed we put in the ground till the last pass at harvest we take so much risk. But yet something completely out of our control it’s still our fault. We are just peasants out here it’s our job to feed the world for nothing.

Sorry Mr Moe farming is the backbone of this province. You can brag about all the money you make off non renewable resources, but how much of that is spent locally to keep business’s going??

Moe should take a long hard look at himself and realize there are a lot of hurting farmers out there, not only his hurting balance sheet.

[furrowtickler]

They were ok with taking premiums the past 20 years with basically no payouts .
Add that up

[sawfly1]

Not exactly sure how it works , correct me if I am wrong, but the sask govt. Gets use of our premium $ for 20 years , zero interest money , then they promise to cover losses when the time comes. What is moe bitching about holding the government s end up now.

[farming101]

2,636,444,000 across all programs

https://www.scic.ca/about-us/annual-reports/

The government does pay interest on the funds

[Misterjade9]

I am sure there is a line item that shows how much crop insurance has contributed to general revenue over the years, but I couldn't find it this morning when I looked over the budget document. Maybe someone smarter than me can find it

[Misterjade9]

Thanks 101, I knew it was there somewhere.

[SASKFARMER]

It was Close to 2.7 billion so blaming farmers for insurance that makes the prove money most years is a joke. Yes, all insurance premiums will be going up no kidding it's insurance. But for years it pissed me off that the FEDS AND PROV talk a good talk about premium is half paid by gov and farmers. **** me its 100% paid by farmers. Old sleight of hand.

[riders2010]

A payment from the feds responding to the hard hit drought areas sure would have helped the provinces bottom line in the long run.
Why didn’t Moe ask for it? Now he’s broke and blaming rural Saskatchewan. IDIOT!!!! Pocketing all the premium over the years to hide the mismanagement of the entire province.
Maybe we need to send this moron to Quebec to see first hand how this all works. Play the game!

[Guest]

We had years of low payouts so the costs for the reinsurance and our premiums were low. But the surplus would also be high if it was left alone. This year once in 50 years would have been covered by that surplus.

I'm a supporter of the sask party but **** boys this is bullshit blaming farmers.

we need a new "saskparty"
these fellas are all about themselves