The existence of the FDIC is in itself, the proof there is risk involved :-)
As of June 2026, the FDIC had approximately $161 billion in its insurance fund against...drum roll... $10.8 trillion in insured deposits.
Good luck calling on your insurance on a systemic bank crisis....
Even when the current funds available are insufficient, it can borrow from the federal government or issue debt to cover the insured deposits.
A situation which calls that borrowing capability into question would mean the economy is so bad the dollar is worthless.
This particular insurer is unlike others because it can ultimately edit entries in a database whenever it wants. As long as you are part of the group that is considered worth editing the database for, such as a depositor at one of the too-big-to-fail banks, then you have nothing to worry about.