Mr. Stephen Rance:

Senator Barrett spoke about deeper protection within the loan. If the insurer covers 20%, 40% or the entire loan, there is an economic equation that relates to the capital relief. As I understand it, the deeper the cover, the better the capital relief. Consequently, if that capital relief is better, then there may be more ability from the lender to pay a premium commensurate with that sort of risk. It probably does not wholeheartedly answer the Senator’s question but it shows there is some mechanism to make something like that work.