I hope it helps a little bit, but the purpose of the act is to ensure that money is actually there in the amount of the liability limit for whatever is compensable under the act. What Mr. McCauley is talking about is that private insurance is actually not available for every single thing. For example, bodily injury from a 10- to 30-year period. I'm not an insurer, but I guess it's causation. I don't know, but they won't provide it anyway and that's the point. The government ensures that the money is actually there and that there will be money to compensate victims. In the event that there's nobody else to provide it, yes, it comes out of government funds, and that's the purpose of reinsurance.
On December 2nd, 2009. See this statement in context.