The good news is that the insurance industry is clearly capable of taking care of the losses that occurred on September 11.

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

Neither can we allow the insurance industry to use the September attacks as an excuse to shirk its rightful role and responsibilities.

We cannot let that happen.

We cannot ask the taxpayer to pick up the entire bill.

Well, that is a consideration--we cannot do no solution. I do not think we can do that. So let us find the delicate balance.

Neither can we allow the insurance industry to use the September attacks as an excuse to shirk its rightful role and responsibilities.

That is correct.

We must allow the market to figure out how to price this new risk.

What we ought to approach this challenge with is the question, how are we going to protect America's insurance consumers.

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

Yes, sir. It is called the Wind Risk.

A lot of us think that that is just playing shell games.

I find that a fantastic assumption, if that is the premise of the system you are setting up.

We need to push back overreaching, if that is, in fact, occurring.

Do you see a problem connected with that?

I think the Administration needs to give some additional and careful thought to having a more balanced response to this challenge.

Well, that is a more sensitive and rational response to what I have been getting.