I'm going to get to that. It's very costly. The administrative burden on the licensee is huge. We have to do audits, and we have to go through tons of paper. You are absolutely correct. We're supposed to have 100%. Normally we do. We checked, and in the last 12 failures over about the last eight years, we had full payment from two-thirds of them. There have been a couple of others where it was almost 100%. There have been a couple of cases where the producers got only a few cents—30¢, 40¢, or 50¢ on the dollar—because licensees weren't reporting correctly or they made some deal that really went south on them, and their exposure was far higher than it had normally been. Producers were left holding the bag and weren't fully paid for that. We suggest that if you went to an insurance system where your coverage was based on risk rather than the producers' actual liability, you could then take the basket approach. We know not all of our licensees are all going to go broke at the same time. That's not the way things work in the real world. There are economies as far as cost is concerned, and also a lot less administrative burden on everybody.
On November 6th, 2012. See this statement in context.