The closest analogy that can be drawn is political riskinsurance, says John M. Stone of Dallas-based John M. Stone Co. andchairman of legislative committees for the North Texas CommercialAssociation of Realtors, IREM Dallas chapter and the Realtors LandInstitute. "I think it goes without saying that there probably isgoing to be something," he tells That "something" mostlikely will have to be federally subsidized, much like flood andearthquake coverage. And that probably won't get past the taxpayersat large no matter how hard the insurance industry lobbies. "Thequestion is going to be ultimately whether the taxpayers arewilling to insure against everything," he says,"and the bottom lineis going to be 'no.'"

It won't be cheap and it won't be easy to develop terroristriders to all-risk policies, which now exclude acts of war. "You'redealing with a bottomless pit," Stone says. "You don't know theextent of damage or the reoccurrence." Stringent claim standardswill have to be massaged and re-massaged to fine-tune wording toweed out fraud.

"Are people here concerned? Yeah," Stone says, "we areconcerned, but we have to come up with practical solutions."Otherwise, he says, it could end up like a recent mold lawsuit inwhich the property owner got a $32-million award for a $2-millionhome in Dripping Springs, TX.

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