There's always robots.txt and Google checks for googlebot for its generic crawler, as well as googlebot-image for its image crawler.
A lot of grief could be avoided if they added googlebot-news to their spider code, then anything allowed for googlebot but not googlebot-news ends up in the regular index on the main Google site, but not on the Google News page.
That way the news sites could opt out of the one without opting out of the other. It would still cost them a significant amount of traffic, I'd bet and cause them to reconsider. On the whole it would a cheap way for Google to prove the point by giving them exactly what they want.
Newspaper: But if people read the snippet, they no longer need to read the article! Judge: So what you're saying is, Google copies the entire article? Newspaper: No, your honor, but the snippet contains enough that people might not want to read the entire story. Judge: So what you're saying is, you write predictable drivel and any random excerpted piece of it is enough to know the rest? Newspaper: Derp.
So which is it? Either there is value in Google driving traffic and they just want to be paid for receiving free advertising, or the news sites want to hide that articles can indeed be summarised accurately by Google in 2 sentences.
But taking it somewhat seriously for a moment; as far as an insurance company goes, it doesn't have to be a losing proposition. Structure it like bonds that come due when the buyer's company goes under. Insurance company collects rent until then, as well as perhaps a service charge.
The upside for whomever would buy into that could be releasing the funds only after bankruptcy proceedings have taken place. So then free from creditors, the account holder could take whatever they've paid in and start over or use it toward an early retirement.
Next year, a blockbuster summer hit about DotCom the antihero. Followed by a score of action figures, some of which I figure legal action. Then games for all the usual platforms as well as Linux (because, you know Pirates! & Freetards!).
I'm tempted to break out the popcorn, but I doubt it'll last that long.