My question is to Mr. Gallivan, and of course Mr. Hamilton is welcome to comment as well.
I want to build on what my esteemed colleague Mr. Fergus said when he was asking about the 5% default rate, because I was struck by something, and I thank him for his excellent questioning.
Is that 5% default rate based on just everyone, from the highest economic standpoint to the lowest, and not reflective of there being a pandemic? I have a suspicion that this number will be maybe double or even triple that, due to the pandemic and due to these benefits oftentimes being paid to some of the people dealing with the largest economic challenges.
Can you comment on that? Maybe you're going to tell me I'm way off, but I suspect that I'll be validated.