Exhibit 5.02



                     [Letterhead of Day, Berry & Howard LLP]


                                                               March 27, 2002

MBIA Inc.
113 King Street
Armonk, NY 10504

Re:  MBIA Inc.
     Registration Statement on Form S-3

Ladies and Gentlemen:

     We have acted as special Connecticut counsel to MBIA Inc., a Connecticut
corporation (the "Company"), as to certain matters of Connecticut law in
connection with the filing by the Company with the Securities and Exchange
Commission (the "Commission") under the Securities Act of 1933, as amended (the
"Securities Act"), of a registration statement on Form S-3 (the "Registration
Statement"), and the prospectus included therein (the "Prospectus"), relating to
up to $400,000,000 aggregate principal amount of any combination of senior debt
securities, subordinated debt securities, preferred stock, par value $1.00 per
share (the "Preferred Stock"), and common stock, par value $1.00 per share (the
"Common Stock"), to be sold by the Company.

     In connection with this opinion, we have examined originals or copies,
certified or otherwise identified to our satisfaction, of the Registration
Statement, including the Prospectus, the Company's Restated Certificate of
Incorporation, as amended to date (the "Certificate of Incorporation"), the
Company's By-laws, as amended to date (the "By-laws"), and records of the
corporate proceedings of the Board of Directors of the Company with respect to
the Registration Statement and the offerings contemplated thereby. We have also
examined such other documents, and made such examination of law, as we have
deemed necessary in order to render our opinion. In our examination we have
assumed the genuineness of all signatures, the authenticity of all documents
submitted to us as originals, the conformity to all originals of all documents
submitted to us as copies thereof and the authenticity of the originals of such
latter documents.

     The opinions expressed herein are limited to the laws of the State of
Connecticut. For purposes of this opinion, we have assumed that the Company's
Certificate of Incorporation and



March 27, 2002
Page 2

     By-laws as in effect on the date of issuance of any shares of Preferred
Stock or Common Stock pursuant to the Registration Statement will be the same as
the Certificate of Incorporation and By-laws of the Company on the date hereof.

     Based on and subject to the foregoing, we are of the opinion that:

     1. Shares of Common Stock that are authorized pursuant to the Certificate
of Incorporation will be duly authorized, validly issued, fully paid and
nonassessable if (a) immediately prior to such issuance, such shares are
unissued and have not been reserved for any other purpose; (b) such shares are
sold pursuant to the Registration Statement on terms approved by the Board of
Directors for amounts at least equal to the par value of such shares; and (c)
the Company has received the consideration which the Board of Directors has
authorized for the shares.

     2. Shares of Preferred Stock that are authorized pursuant to the
Certificate of Incorporation, of any series, will be duly authorized, validly
issued, fully paid and nonassessable if: (a) the terms, limitations and relative
rights and preferences of such series are set forth in a Certificate of
Amendment that has been duly authorized by the Company's Board of Directors,
duly executed by duly authorized officers of the Company and duly filed with the
Secretary of State of the State of Connecticut; (b) immediately prior to such
issuance, such shares are unissued and have not been reserved for any other
purpose; (c) such shares are sold pursuant to the Registration Statement on
terms approved by the Board of Directors for amounts at least equal to the par
value of such shares; and (d) the Company has received the consideration which
the Board of Directors authorized for the shares.

     We hereby consent to the filing of this opinion as an exhibit to the
Company's Registration Statement and the reference to our firm in the Prospectus
under the caption "Legal Matters." In giving such consent, we do not thereby
admit that we are within the category of persons whose consent is required under
Section 7 of the Securities Act or the rules and regulations of the Commission
thereunder.

                                           Very truly yours,





                                           /s/Day, Berry & Howard LLP


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