Were I still the insurance commissioner, I would try, Mr. Chairman, but I am not sure I would be successful.

I believe so. That question never came up because it was never a question of whether it was not to be covered.

To risk not doing anything because we all cannot come together on an agreement, could really push us much further down the economic ladder.

The policy could be backed up in Year One.

From my State of New York, it is vital that we get something done.

Simply put, if the Federal Government's taxpayer resources are granted, then the terrorism peril cannot be dumped by the insurance industry.

But when I talk to real estate developers and entrepreneurs... they say that without a longer-term solution, they are not going to build a thing.

Whatever solution that we come up with at the Federal level on terrorist coverage, I believe that the same principles of private enterprise must be applied.

Would you agree, though, if we did no solution or a 1 year solution, that it would create a significant damper on economic growth next year?

I worry that if we do not have some kind of legislative remedy, downtown New York will not be rebuilt.

That is a pool of a sort, but a pool you could live with.

And there are some people who no one will insure.

For a week. It is not mandatory, but if you have some good idea, I would love to hear it.

Again, we are talking past each other. I am not worried about competition between the two.

But in this new world we are in, wouldn't the fact that we do not know what is going to happen create a real dampening effect on the economy if we have a short-term plan?

I am very worried that people will not endeavor to begin large new projects if they are worried...

I worry about a significant portion of properties not being insured.

I think that we are playing with fire by saying, well, let us let the market see if it can solve this problem.