Reinsurance
National Community Foundation (NCF) now reinsures most new transactions with insurance companies rated at least “A” or better by the accredited rating agency, A.M. Best1.
NCF contracts provide a provision whereby:
- the insurance company will make payments to NCF in the amounts set forth in the contract for the duration of the contract, and
- in the event NCF should fail to make the required payment to the income recipient, upon proper notification, the insurance company will make payments directly to the income recipient.